Marco Investment Management LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Marco Investment Management LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 197,914 shares of the wireless technology company’s stock after acquiring an additional 871 shares during the period. QUALCOMM comprises approximately 2.9% of Marco Investment Management LLC’s investment portfolio, making the stock its 4th biggest position. Marco Investment Management LLC’s holdings in QUALCOMM were worth $28,624,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Strategic Blueprint LLC raised its stake in shares of QUALCOMM by 23.0% in the third quarter. Strategic Blueprint LLC now owns 3,755 shares of the wireless technology company’s stock worth $417,000 after buying an additional 701 shares during the period. Denali Advisors LLC bought a new position in shares of QUALCOMM in the third quarter worth about $167,000. Avestar Capital LLC raised its stake in shares of QUALCOMM by 18.0% in the third quarter. Avestar Capital LLC now owns 6,009 shares of the wireless technology company’s stock worth $667,000 after buying an additional 915 shares during the period. Townsend Asset Management Corp NC ADV raised its stake in shares of QUALCOMM by 15.6% in the third quarter. Townsend Asset Management Corp NC ADV now owns 63,174 shares of the wireless technology company’s stock worth $7,016,000 after buying an additional 8,524 shares during the period. Finally, Brookstone Capital Management raised its stake in shares of QUALCOMM by 3.8% in the third quarter. Brookstone Capital Management now owns 30,966 shares of the wireless technology company’s stock worth $3,446,000 after buying an additional 1,143 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ QCOM traded up $2.36 during trading on Friday, hitting $165.66. 7,141,339 shares of the stock traded hands, compared to its average volume of 6,691,146. The company has a market capitalization of $184.88 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The firm has a 50-day simple moving average of $165.84 and a 200-day simple moving average of $144.94. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced 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 is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s payout ratio is 49.28%.

Analysts Set New Price Targets

Several research analysts have recently commented on QCOM shares. Susquehanna raised their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Canaccord Genuity Group increased their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. cut their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

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.