Artemis Investment Management LLP Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Artemis Investment Management LLP increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,508 shares of the wireless technology company’s stock after acquiring an additional 10,867 shares during the quarter. Artemis Investment Management LLP’s holdings in QUALCOMM were worth $11,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in QCOM. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter worth $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter worth about $26,000. Planning Capital Management Corp lifted its holdings in shares of QUALCOMM by 137.3% during the third 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. Hershey Financial Advisers LLC purchased a new position in QUALCOMM during the second quarter valued at $42,000. Finally, Accordant Advisory Group Inc bought a new stake in QUALCOMM in the third quarter worth $36,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ:QCOM opened at $164.56 on Monday. The company has a 50-day moving average price of $158.85 and a 200 day moving average price of $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 company has a market cap of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations 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 earnings per share for the current 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 paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Citigroup reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.57.

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.