QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 100.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 100,000 shares of the wireless technology company's stock after purchasing an additional 50,000 shares during the period. QUALCOMM makes up approximately 2.2% of Ardmore Road Asset Management LP's holdings, making the stock its 18th largest position. Ardmore Road Asset Management LP's holdings in QUALCOMM were worth $15,362,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted 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 in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $2,058,000. Burney Co. increased its holdings in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM in the 4th quarter worth about $240,000. 74.35% of the stock is owned by institutional investors.

Remove Ads

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $14.66 during mid-day trading on Thursday, reaching $139.42. The company's stock had a trading volume of 16,453,352 shares, compared to its average volume of 8,624,447. The stock has a market capitalization of $154.20 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $138.58 and a 1-year high of $230.63. The stock has a 50-day moving average of $163.33 and a two-hundred day moving average of $163.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.44%. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of QUALCOMM 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 owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One equities 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 company's stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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.