MJP Associates Inc. ADV Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

MJP Associates Inc. ADV lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 72.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,158 shares of the wireless technology company’s stock after purchasing an additional 2,173 shares during the period. MJP Associates Inc. ADV’s holdings in QUALCOMM were worth $792,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter valued at $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $33,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.1%

Shares of QCOM opened at $145.30 on Monday. The company has a market capitalization of $159.54 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $120.80 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 firm’s 50 day simple moving average is $146.38 and its 200 day simple moving average is $157.41.

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

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.45%. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,312 shares of company stock valued at $2,457,779. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Evercore ISI dropped their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of “Hold” and an average price target of $192.08.

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.