Miramar Capital LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Miramar Capital LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 57,729 shares of the wireless technology company’s stock, valued at approximately $8,868,000. QUALCOMM accounts for approximately 2.1% of Miramar Capital LLC’s portfolio, making the stock its 27th biggest holding.

A number of other institutional investors have also recently bought and sold shares of QCOM. Capital Performance Advisors LLP acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at about $83,000. Leavell Investment Management Inc. lifted its holdings in shares of QUALCOMM by 17.7% during the 3rd quarter. Leavell Investment Management Inc. now owns 23,229 shares of the wireless technology company’s stock valued at $3,950,000 after buying an additional 3,495 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of QUALCOMM by 31.0% during the 3rd quarter. Equitable Trust Co. now owns 16,378 shares of the wireless technology company’s stock valued at $2,785,000 after buying an additional 3,874 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at about $13,449,000. Finally, Crumly & Associates Inc. lifted its holdings in shares of QUALCOMM by 121.7% during the 3rd quarter. Crumly & Associates Inc. now owns 3,432 shares of the wireless technology company’s stock valued at $584,000 after buying an additional 1,884 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QCOM stock opened at $161.22 on Friday. The stock’s fifty day simple moving average is $164.76 and its 200 day simple moving average is $165.09. 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 firm has a market cap of $178.31 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on QCOM shares. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.