US Asset Management LLC Acquires Shares of 3,035 QUALCOMM Incorporated (NASDAQ:QCOM)

US Asset Management LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,035 shares of the wireless technology company’s stock, valued at approximately $439,000.

A number of other large investors also recently made changes to their positions in the company. Nichols & Pratt Advisers LLP MA increased its stake in shares of QUALCOMM by 0.4% during the 4th quarter. Nichols & Pratt Advisers LLP MA now owns 150,134 shares of the wireless technology company’s stock worth $21,714,000 after purchasing an additional 537 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in shares of QUALCOMM by 3.9% in the fourth quarter. Catalyst Financial Partners LLC now owns 8,731 shares of the wireless technology company’s stock worth $1,263,000 after purchasing an additional 324 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in QUALCOMM by 38.3% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,389 shares of the wireless technology company’s stock valued at $1,069,000 after acquiring an additional 2,046 shares during the period. National Pension Service boosted its holdings in shares of QUALCOMM by 2.2% in the fourth quarter. National Pension Service now owns 2,031,318 shares of the wireless technology company’s stock worth $293,790,000 after acquiring an additional 43,783 shares during the period. Finally, Arlington Capital Management Inc. purchased a new position in shares of QUALCOMM in the fourth quarter valued at $228,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QCOM shares. HSBC upped their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. TD Cowen lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. increased their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $1.10 during trading hours on Friday, hitting $181.64. 2,724,735 shares of the company’s stock traded hands, compared to its average volume of 8,597,127. The firm has a market capitalization of $202.71 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $169.57 and its two-hundred day moving average price is $148.54. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $184.31.

QUALCOMM Increases Dividend

The company 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.87%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’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 sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock valued at $7,796,128 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.