EntryPoint Capital LLC Makes New $330,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

EntryPoint Capital LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,147 shares of the wireless technology company’s stock, valued at approximately $330,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after acquiring an additional 707,468 shares during the period. State Street Corp grew its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the period. Geode Capital Management LLC increased its holdings in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Amundi lifted its stake in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of QUALCOMM by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after buying an additional 193,236 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 1.1 %

QCOM opened at $158.39 on Thursday. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a market cap of $175.18 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $164.47 and a 200 day moving average of $163.92.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

About QUALCOMM

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.