Lewis Asset Management LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Lewis Asset Management LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,079 shares of the wireless technology company’s stock after buying an additional 151 shares during the period. Lewis Asset Management LLC’s holdings in QUALCOMM were worth $627,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in QUALCOMM in the second quarter worth about $896,000. Ascent Group LLC lifted its stake in shares of QUALCOMM by 13.4% during the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock worth $564,000 after acquiring an additional 335 shares during the last quarter. Algert Global LLC purchased a new position in QUALCOMM during the 2nd quarter valued at $366,000. Advisory Alpha LLC grew its position in QUALCOMM by 33.3% in the 2nd quarter. Advisory Alpha LLC now owns 2,499 shares of the wireless technology company’s stock valued at $498,000 after acquiring an additional 624 shares during the last quarter. Finally, New Century Financial Group LLC purchased a new stake in QUALCOMM in the second quarter worth $360,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 0.1 %

QUALCOMM stock opened at $171.71 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a market cap of $190.77 billion, a PE ratio of 19.10, a PEG ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The business’s 50-day simple moving average is $159.76 and its two-hundred day simple moving average is $166.85.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM 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.