Tidemark LLC Makes New $161,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Tidemark LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,112 shares of the wireless technology company’s stock, valued at approximately $161,000.

A number of other hedge funds also recently made changes to their positions in the business. Ontario Teachers Pension Plan Board increased its stake in shares of QUALCOMM by 19.5% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 26,685 shares of the wireless technology company’s stock worth $3,859,000 after purchasing an additional 4,351 shares during the last quarter. Delta Asset Management LLC TN boosted its holdings in QUALCOMM by 7.6% in the 4th quarter. Delta Asset Management LLC TN now owns 2,540 shares of the wireless technology company’s stock worth $367,000 after buying an additional 180 shares during the period. Capital Management Associates NY boosted its stake in QUALCOMM by 3.9% in the 4th quarter. Capital Management Associates NY now owns 5,832 shares of the wireless technology company’s stock worth $843,000 after purchasing an additional 218 shares during the period. Seven Mile Advisory grew its stake in QUALCOMM by 24.5% during the fourth quarter. Seven Mile Advisory now owns 2,281 shares of the wireless technology company’s stock valued at $330,000 after acquiring an additional 449 shares in the last quarter. Finally, Nemes Rush Group LLC increased its holdings in shares of QUALCOMM by 2.4% in the fourth quarter. Nemes Rush Group LLC now owns 89,228 shares of the wireless technology company’s stock worth $12,905,000 after purchasing an additional 2,073 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. KeyCorp boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Wolfe Research lifted their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Robert W. Baird lifted their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Bank of America lifted their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.48.

Insider Buying and Selling

In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 70,074 shares of company stock valued at $12,258,386 over the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.8 %

QCOM stock traded up $1.72 during midday trading on Thursday, reaching $204.65. 6,591,585 shares of the company traded hands, compared to its average volume of 8,616,192. The firm has a market capitalization of $228.39 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 2.48 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The business has a 50 day moving average of $173.97 and a 200-day moving average of $154.04. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $207.95.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.81 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 43.01%.

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.