Pine Valley Investments Ltd Liability Co Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Pine Valley Investments Ltd Liability Co grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,373 shares of the wireless technology company’s stock after acquiring an additional 3,975 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in QUALCOMM were worth $4,359,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter worth approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% in the third 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 in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now 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 this hyperlink. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now 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. Over the last quarter, insiders have sold 46,708 shares of company stock worth $7,713,734. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 2.6 %

Shares of QUALCOMM stock opened at $161.10 on Tuesday. The company’s fifty day moving average price is $164.52 and its two-hundred day moving average price is $165.81. The firm has a market capitalization of $178.18 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

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.