Tidemark LLC Takes $161,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Tidemark LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, HoldingsChannel reports. The firm bought 1,112 shares of the wireless technology company’s stock, valued at approximately $161,000.

Several other institutional investors and hedge funds also recently modified their holdings of QCOM. Norges Bank purchased a new position in QUALCOMM during the fourth quarter worth $2,507,978,000. International Assets Investment Management LLC increased its position in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. raised its stake in QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Barclays PLC boosted its stake in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of QUALCOMM by 15.7% during the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after buying an additional 1,253,173 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 689 shares of QUALCOMM stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total transaction of $110,680.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Neil Martin sold 689 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $160.64, for a total value of $110,680.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,074 shares of company stock worth $12,258,386. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $1.72 during midday trading on Thursday, reaching $204.65. 6,591,585 shares of the company traded hands, compared to its average volume of 8,616,192. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $207.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a fifty day moving average price of $173.97 and a 200 day moving average price of $154.04. The firm has a market capitalization of $228.39 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 2.48 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. On average, analysts expect that QUALCOMM Incorporated will post 7.81 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 43.01%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Barclays lifted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Piper Sandler raised their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $180.48.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.