Aspire Growth Partners LLC Purchases New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Aspire Growth Partners LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,306 shares of the wireless technology company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on QCOM shares. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Citigroup reduced their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday. Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $192.58.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. The trade was a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,266 shares of company stock worth $5,267,436 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

QCOM opened at $139.81 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a 50 day moving average of $147.74 and a two-hundred day moving average of $158.53. The company has a market cap of $154.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the prior year, the company earned $2.44 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.55%. QUALCOMM’s payout ratio is 36.25%.

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.