Hourglass Capital LLC Has $3.98 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Hourglass Capital LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,915 shares of the wireless technology company’s stock after purchasing an additional 3,430 shares during the period. Hourglass Capital LLC’s holdings in QUALCOMM were worth $3,981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the period. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp increased its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $172.23 on Friday. The firm’s fifty day simple moving average is $163.13 and its two-hundred day simple moving average is $165.50. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $190.49 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released 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 return on equity of 39.51% and a net margin of 25.94%. As a group, analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s payout ratio is presently 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock valued at $7,785,781 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QCOM. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.