Abel Hall LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Abel Hall LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,788 shares of the wireless technology company’s stock, valued at approximately $403,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its stake in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM in the fourth quarter valued at $32,000. Cherry Tree Wealth Management LLC lifted its stake in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $35,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QUALCOMM stock traded down $2.48 during mid-day trading on Friday, hitting $215.33. 6,438,225 shares of the company traded hands, compared to its average volume of 9,812,994. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $218.36. The stock has a market cap of $240.31 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a fifty day moving average price of $187.60 and a 200-day moving average price of $163.97.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Mizuho increased their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.74.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is currently owned by 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.