Cullinan Associates Inc. Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cullinan Associates Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,721 shares of the wireless technology company’s stock after acquiring an additional 3,709 shares during the period. Cullinan Associates Inc.’s holdings in QUALCOMM were worth $3,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the 4th quarter worth about $27,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 1.6 %

QCOM opened at $170.24 on Tuesday. The stock has a market capitalization of $189.14 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $141.21 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a 50-day moving average of $160.76 and a two-hundred day moving average of $166.19.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts expect that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th 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 2.00%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock worth $4,000,870 over the last ninety days. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.