Lecap Asset Management Ltd. Acquires New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Lecap Asset Management Ltd. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,021 shares of the wireless technology company’s stock, valued at approximately $2,615,000.

Other large investors have also recently made changes to their positions in the company. Paulson Wealth Management Inc. grew its stake in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after acquiring an additional 61 shares in the last quarter. Blossom Wealth Management raised its position in QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 64 shares in the last quarter. Delta Financial Advisors LLC lifted its holdings in shares of QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares during the period. Toth Financial Advisory Corp grew its position in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC increased its stake in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $169.32 on Friday. The firm has a market cap of $188.11 billion, a PE ratio of 18.83, a P/E/G ratio of 2.87 and a beta of 1.25. The business has a 50-day moving average price of $161.70 and a 200 day moving average price of $166.02. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $143.63 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on QCOM. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Evercore ISI reduced their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.