North Forty Two & Co. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

North Forty Two & Co. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 5,261 shares of the wireless technology company’s stock, valued at approximately $808,000.

Several other institutional investors have also recently made changes to their positions in QCOM. GLOBALT Investments LLC GA raised its position in shares of QUALCOMM by 16.3% in the 3rd quarter. GLOBALT Investments LLC GA now owns 1,396 shares of the wireless technology company’s stock worth $237,000 after acquiring an additional 196 shares in the last quarter. OneAscent Wealth Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth approximately $352,000. Caprock Group LLC raised its position in shares of QUALCOMM by 7.7% in the 3rd quarter. Caprock Group LLC now owns 33,407 shares of the wireless technology company’s stock worth $5,681,000 after acquiring an additional 2,375 shares in the last quarter. OneAscent Financial Services LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth approximately $422,000. Finally, Meeder Asset Management Inc. raised its position in shares of QUALCOMM by 5.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 163,691 shares of the wireless technology company’s stock worth $27,836,000 after acquiring an additional 8,788 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock opened at $156.29 on Wednesday. The company has a market cap of $172.86 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year 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 stock’s fifty day moving average price is $164.56 and its 200-day moving average price is $164.19.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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 of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.18%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Ratings Changes

A number of research analysts recently weighed in on QCOM shares. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

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.