Secure Asset Management LLC Takes $325,000 Position in QUALCOMM, Inc. (NASDAQ:QCOM)
Secure Asset Management LLC acquired a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,684 shares of the wireless technology company’s stock, valued at approximately $325,000.
Several other large investors have also made changes to their positions in QCOM. Assenagon Asset Management S.A. grew its position in shares of QUALCOMM by 787.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,540,094 shares of the wireless technology company’s stock valued at $135,882,000 after purchasing an additional 1,366,514 shares during the period. Rheos Capital Works Inc. acquired a new position in QUALCOMM in the fourth quarter valued at $112,379,000. Johanson Financial Advisors Inc. boosted its holdings in QUALCOMM by 9,221.8% in the fourth quarter. Johanson Financial Advisors Inc. now owns 923,234 shares of the wireless technology company’s stock valued at $10,463,000 after acquiring an additional 913,330 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in QUALCOMM in the third quarter valued at $66,793,000. Finally, California Public Employees Retirement System boosted its holdings in QUALCOMM by 24.1% in the third quarter. California Public Employees Retirement System now owns 2,757,349 shares of the wireless technology company’s stock valued at $210,331,000 after acquiring an additional 535,070 shares during the last quarter. 77.48% of the stock is owned by institutional investors and hedge funds.
Shares of QCOM traded down $0.53 during midday trading on Friday, reaching $89.50. 4,409,332 shares of the company were exchanged, compared to its average volume of 10,039,141. The company has a current ratio of 1.76, a quick ratio of 1.61 and a debt-to-equity ratio of 2.98. QUALCOMM, Inc. has a 1-year low of $51.09 and a 1-year high of $96.17. The stock has a 50-day moving average price of $89.52 and a 200-day moving average price of $82.26. The company has a market cap of $101.27 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.23 and a beta of 1.56.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, March 4th. QUALCOMM’s dividend payout ratio (DPR) is 87.32%.
A number of research analysts recently weighed in on the company. Cowen lifted their target price on QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup upgraded QUALCOMM from a “neutral” rating to a “buy” rating and lifted their target price for the company from $89.00 to $108.00 in a report on Friday, January 17th. UBS Group lifted their target price on QUALCOMM from $87.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $108.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on QUALCOMM from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $94.38.
In related news, EVP Alexander H. Rogers sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $85.07, for a total value of $1,276,050.00. Following the transaction, the executive vice president now owns 22,832 shares in the company, valued at $1,942,318.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 735 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $95.37, for a total value of $70,096.95. Following the completion of the transaction, the executive vice president now owns 14,247 shares in the company, valued at approximately $1,358,736.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,458 shares of company stock worth $9,349,683. Insiders own 0.12% of the company’s stock.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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