M.E. Allison & CO. Inc. Makes New $316,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

M.E. Allison & CO. Inc. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, HoldingsChannel reports. The fund bought 2,055 shares of the wireless technology company’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter worth $26,000. Planning Capital Management Corp boosted its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $42,000. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the third quarter valued at $36,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QCOM. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Stock Performance

QCOM stock opened at $164.56 on Monday. The stock’s 50 day simple moving average is $158.85 and its 200 day simple moving average is $168.82. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The firm has a market cap of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

QUALCOMM 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.