NEOS Investment Management LLC Purchases 28,197 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

NEOS Investment Management LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,504 shares of the wireless technology company's stock after buying an additional 28,197 shares during the quarter. NEOS Investment Management LLC's holdings in QUALCOMM were worth $21,584,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. TBH Global Asset Management LLC grew its holdings in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after purchasing an additional 63 shares in the last quarter. PDS Planning Inc lifted its position in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the period. CFS Investment Advisory Services LLC grew its stake in 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 worth $929,000 after buying an additional 65 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after buying an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC raised its position in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

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Insider Activity

In related news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last three months. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on QCOM shares. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Stock Down 3.3 %

QCOM traded down $5.25 during midday trading on Friday, reaching $152.72. 8,915,861 shares of the company were exchanged, compared to its average volume of 8,605,322. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company's fifty day moving average price is $164.16 and its 200 day moving average price is $163.84. The company has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

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.