Stevens Capital Management LP Makes New $953,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Stevens Capital Management LP purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 6,587 shares of the wireless technology company’s stock, valued at approximately $953,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Syon Capital LLC grew its stake in QUALCOMM by 258.0% in the fourth quarter. Syon Capital LLC now owns 6,540 shares of the wireless technology company’s stock valued at $946,000 after acquiring an additional 4,713 shares during the period. Lyell Wealth Management LP bought a new stake in QUALCOMM during the 4th quarter worth approximately $205,000. GHE LLC lifted its stake in QUALCOMM by 0.8% in the fourth quarter. GHE LLC now owns 21,961 shares of the wireless technology company’s stock valued at $3,176,000 after buying an additional 165 shares in the last quarter. Community Bank N.A. raised its stake in shares of QUALCOMM by 1.5% in the 4th quarter. Community Bank N.A. now owns 31,127 shares of the wireless technology company’s stock valued at $4,502,000 after purchasing an additional 470 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in QUALCOMM by 1.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,231 shares of the wireless technology company’s stock worth $3,649,000 after acquiring an additional 447 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. Cantor Fitzgerald lifted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. Evercore ISI began coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Finally, Barclays upped their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Stock Down 0.2 %

QCOM stock traded down $0.33 on Thursday, hitting $163.30. 6,202,433 shares of the company’s stock were exchanged, compared to its average volume of 8,540,579. The firm has a 50 day moving average price of $165.43 and a two-hundred day moving average price of $143.97. The stock has a market cap of $182.24 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.08%. 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 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by corporate insiders.

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.