M.E. Allison & CO. Inc. Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

M.E. Allison & CO. Inc. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,055 shares of the wireless technology company's stock, valued at approximately $316,000.

A number of other large investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter worth $30,000. Planning Capital Management Corp increased its position 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 worth $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the third quarter valued at $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM in the third quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock traded up $3.13 on Monday, reaching $164.56. 8,063,912 shares of the company's stock were exchanged, compared to its average volume of 6,526,932. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $158.85 and a 200-day moving average of $168.57. The firm has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM's payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 price target on the stock. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday. Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Finally, Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, November 20th. One 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.57.

Insider Buying and Selling

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

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.