Milestone Asset Management LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Milestone Asset Management LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,364 shares of the wireless technology company's stock after acquiring an additional 3,610 shares during the period. Milestone Asset Management LLC's holdings in QUALCOMM were worth $1,899,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth approximately $27,000. Planning Capital Management Corp increased its position in 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 buying an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new position in QUALCOMM during the third quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.57.

QUALCOMM Price Performance

QCOM traded up $1.28 during trading on Thursday, reaching $172.99. 2,602,531 shares of the stock were exchanged, compared to its average volume of 7,288,360. The business's 50 day moving average price is $160.11 and its two-hundred day moving average price is $166.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $192.20 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM's dividend payout ratio is currently 37.82%.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the company'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 completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company's stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.