Klingman & Associates LLC Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Klingman & Associates LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,994 shares of the wireless technology company’s stock after purchasing an additional 204 shares during the period. Klingman & Associates LLC’s holdings in QUALCOMM were worth $306,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter worth about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Planning Capital Management Corp lifted its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at about $36,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,964 shares of company stock valued at $7,583,661. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on QCOM. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

QCOM opened at $175.22 on Thursday. The stock has a market cap of $193.79 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock’s 50 day simple moving average is $164.01 and its 200 day simple moving average is $165.61. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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

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.