Allstate Corp Acquires New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Allstate Corp acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,909 shares of the wireless technology company’s stock, valued at approximately $5,055,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter valued at $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM in the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $38,000. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 3.3 %

Shares of QUALCOMM stock opened at $152.72 on Friday. The firm has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a 50-day simple moving average of $164.16 and a 200-day simple moving average of $163.82. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week 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.

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

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

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.