Summit Global Investments Acquires 50,443 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Summit Global Investments increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 104.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,722 shares of the wireless technology company's stock after buying an additional 50,443 shares during the quarter. QUALCOMM comprises approximately 0.9% of Summit Global Investments' investment portfolio, making the stock its 16th largest holding. Summit Global Investments' holdings in QUALCOMM were worth $15,166,000 at the end of the most recent quarter.

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

QUALCOMM Price Performance

Shares of QCOM traded down $1.76 during mid-day trading on Wednesday, reaching $158.39. The company had a trading volume of 5,959,028 shares, compared to its average volume of 8,210,342. The company has a market capitalization of $175.18 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company's 50-day moving average is $164.59 and its 200-day moving average is $163.96.

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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 (EPS) 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 analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Benchmark reiterated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective on the stock. Finally, StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction that occurred 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 in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.