GUNN & Co INVESTMENT MANAGEMENT INC. Buys New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,049 shares of the wireless technology company’s stock, valued at approximately $296,000.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC grew its holdings in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Buck Wealth Strategies LLC purchased a new position in QUALCOMM in the 3rd quarter worth $40,000. Finally, BKM Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter worth $58,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $179.64 on Monday. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The business’s fifty day moving average is $167.69 and its 200 day moving average is $147.08. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $183.19.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on QCOM shares. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird increased their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays raised their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock valued at $7,429,728 in the last three months. Company insiders own 0.08% of the company’s stock.

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.