Signature Resources Capital Management LLC Takes $260,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Signature Resources Capital Management LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,796 shares of the wireless technology company’s stock, valued at approximately $260,000.

Several other institutional investors have also made changes to their positions in QCOM. Simon Quick Advisors LLC boosted its position in shares of QUALCOMM by 10.6% during the 3rd quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock valued at $308,000 after acquiring an additional 265 shares in the last quarter. Legacy Financial Group LLC bought a new position in QUALCOMM during the 3rd quarter valued at about $29,000. NorthRock Partners LLC lifted its holdings in QUALCOMM by 12.5% during the 3rd quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company’s stock valued at $491,000 after purchasing an additional 490 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its holdings in QUALCOMM by 50.7% during the 3rd quarter. Horst & Graben Wealth Management LLC now owns 2,812 shares of the wireless technology company’s stock valued at $312,000 after purchasing an additional 946 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in QUALCOMM by 1.7% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 543,300 shares of the wireless technology company’s stock valued at $60,339,000 after purchasing an additional 9,200 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday. Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Mizuho boosted their target price on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were 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 of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock valued at $7,429,728 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ QCOM traded down $0.46 during mid-day trading on Friday, reaching $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $167.69 and a 200 day simple moving average of $146.59. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $183.19. The firm has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 43.01%.

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.