Van Cleef Asset Management Inc Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Van Cleef Asset Management Inc acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,650 shares of the wireless technology company’s stock, valued at approximately $239,000.

A number of other hedge funds have also modified their holdings of QCOM. Founders Financial Securities LLC acquired a new position in QUALCOMM during the third quarter worth $327,000. GHP Investment Advisors Inc. grew its holdings in shares of QUALCOMM by 101.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock worth $81,000 after purchasing an additional 373 shares during the last quarter. Strategic Blueprint LLC increased its position in shares of QUALCOMM by 23.0% during the 3rd quarter. Strategic Blueprint LLC now owns 3,755 shares of the wireless technology company’s stock worth $417,000 after purchasing an additional 701 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in QUALCOMM by 12.1% during the 3rd quarter. Proficio Capital Partners LLC now owns 3,815 shares of the wireless technology company’s stock valued at $424,000 after purchasing an additional 412 shares during the last quarter. Finally, Capital Asset Advisory Services LLC boosted its position in QUALCOMM by 4.1% in the third quarter. Capital Asset Advisory Services LLC now owns 9,602 shares of the wireless technology company’s stock valued at $1,067,000 after buying an additional 374 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Cantor Fitzgerald upped their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Benchmark initiated coverage on shares of QUALCOMM in a research note on Tuesday. They issued a “buy” rating and a $200.00 target price for the company. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Finally, Canaccord Genuity Group lifted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.33 during mid-day trading on Thursday, hitting $163.30. The stock had a trading volume of 6,212,797 shares, compared to its average volume of 8,540,617. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company’s 50 day simple moving average is $165.43 and its 200 day simple moving average is $143.97. The stock has a market cap of $182.24 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.21 and a beta of 1.41. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

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.