TBH Global Asset Management LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

TBH Global Asset Management LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 7,050 shares of the wireless technology company’s stock after acquiring an additional 63 shares during the quarter. TBH Global Asset Management LLC’s holdings in QUALCOMM were worth $1,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd increased its holdings in shares of QUALCOMM by 43.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 20,830 shares of the wireless technology company’s stock valued at $3,200,000 after purchasing an additional 6,288 shares in the last quarter. Private Advisor Group LLC increased its holdings in QUALCOMM by 1.9% in the fourth quarter. Private Advisor Group LLC now owns 91,424 shares of the wireless technology company’s stock valued at $14,045,000 after buying an additional 1,709 shares in the last quarter. Hudson Value Partners LLC lifted its position in shares of QUALCOMM by 3.1% during the 4th quarter. Hudson Value Partners LLC now owns 33,419 shares of the wireless technology company’s stock valued at $5,134,000 after acquiring an additional 1,017 shares during the period. Atlas Legacy Advisors LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $254,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $87,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ QCOM opened at $175.22 on Thursday. The stock has a market capitalization of $193.79 billion, a PE ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.25. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $164.01 and a 200-day moving average of $165.61. QUALCOMM Incorporated has a 52-week low of $148.90 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.94%. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,964 shares of company stock worth $7,583,661 over the last ninety days. 0.08% of the stock is owned by company 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.