Atlas Legacy Advisors LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Atlas Legacy Advisors LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,653 shares of the wireless technology company's stock, valued at approximately $254,000.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,058,000. Burney Co. raised its holdings in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $240,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,964 shares of company stock valued at $7,583,661 in the last 90 days. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock traded down $7.70 during mid-day trading on Friday, reaching $166.00. 6,913,068 shares of the company's stock traded hands, compared to its average volume of 7,611,784. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a market cap of $183.59 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.03 and a beta of 1.25. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $164.32 and a two-hundred day moving average of $165.67.

QUALCOMM (NASDAQ:QCOM - Get Free Report) 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 net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

Several analysts recently issued reports on QCOM shares. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Finally, Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $205.32.

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.