QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Lifted by Cullinan Associates Inc.

Cullinan Associates Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,721 shares of the wireless technology company’s stock after purchasing an additional 3,709 shares during the quarter. Cullinan Associates Inc.’s holdings in QUALCOMM were worth $3,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Compass Capital Management Inc. raised its holdings in QUALCOMM by 6.3% during the fourth quarter. Compass Capital Management Inc. now owns 354,995 shares of the wireless technology company’s stock worth $54,534,000 after purchasing an additional 21,083 shares in the last quarter. RBA Wealth Management LLC raised its position in QUALCOMM by 1.7% in the fourth quarter. RBA Wealth Management LLC now owns 30,106 shares of the wireless technology company’s stock worth $4,625,000 after acquiring an additional 506 shares in the last quarter. Columbus Macro LLC raised its holdings in shares of QUALCOMM by 253.0% in the 4th quarter. Columbus Macro LLC now owns 49,591 shares of the wireless technology company’s stock worth $7,618,000 after purchasing an additional 35,543 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in QUALCOMM by 6.3% during the fourth quarter. Childress Capital Advisors LLC now owns 2,798 shares of the wireless technology company’s stock worth $430,000 after buying an additional 167 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its position in QUALCOMM by 7.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 21,944 shares of the wireless technology company’s stock worth $3,371,000 after buying an additional 1,559 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 1.6 %

Shares of QCOM opened at $170.24 on Tuesday. The business’s 50 day simple moving average is $160.76 and its 200-day simple moving average is $166.19. QUALCOMM Incorporated has a one year low of $141.21 and a one year high of $230.63. The company has a market capitalization of $189.14 billion, a P/E ratio of 18.94, a PEG ratio of 2.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating 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 firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. 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 2.00%. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Company 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.