Arbor Capital Management Inc. ADV Acquires 2,128 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Arbor Capital Management Inc. ADV lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,114 shares of the wireless technology company's stock after purchasing an additional 2,128 shares during the period. QUALCOMM accounts for 2.3% of Arbor Capital Management Inc. ADV's holdings, making the stock its 5th biggest position. Arbor Capital Management Inc. ADV's holdings in QUALCOMM were worth $2,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter worth $29,000. Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at $38,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM in the third quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Susquehanna lowered their price objective on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Finally, Mizuho reduced 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

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QUALCOMM Trading Down 1.0 %

Shares of QCOM traded down $1.64 during mid-day trading on Tuesday, reaching $156.31. 3,773,979 shares of the company were exchanged, compared to its average volume of 8,220,725. The business has a 50 day simple moving average of $164.64 and a two-hundred day simple moving average of $164.32. 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 stock has a market capitalization of $172.87 billion, a PE ratio of 16.72, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.18%. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction that occurred 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 directly owns 20,762 shares in the company, 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. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. Company insiders own 0.08% of the company's stock.

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.