Guardian Partners Inc. Takes $4.90 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Guardian Partners Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,829 shares of the wireless technology company’s stock, valued at approximately $4,904,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in QUALCOMM in the 4th quarter worth $76,380,000. Knights of Columbus Asset Advisors LLC boosted its stake in QUALCOMM by 114.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,029 shares of the wireless technology company’s stock worth $6,917,000 after purchasing an additional 24,073 shares during the period. Umpqua Bank boosted its stake in QUALCOMM by 4.2% in the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 67 shares during the period. Hillsdale Investment Management Inc. boosted its stake in QUALCOMM by 8.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 11,580 shares of the wireless technology company’s stock worth $1,779,000 after purchasing an additional 910 shares during the period. Finally, Plancorp LLC lifted its position in QUALCOMM by 3.8% during the 4th quarter. Plancorp LLC now owns 7,785 shares of the wireless technology company’s stock worth $1,196,000 after buying an additional 283 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s 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 owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $156.82 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $173.44 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.01 and a beta of 1.28. The firm’s 50 day simple moving average is $164.51 and its 200 day simple moving average is $163.98. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho cut 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. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.