Redwood Park Advisors LLC Buys Shares of 258 QUALCOMM Incorporated (NASDAQ:QCOM)

Redwood Park Advisors LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel.com reports. The fund bought 258 shares of the wireless technology company’s stock, valued at approximately $40,000.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake in shares of QUALCOMM by 15.1% during the 4th quarter. LSV Asset Management now owns 2,989,072 shares of the wireless technology company’s stock worth $459,181,000 after purchasing an additional 392,802 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of QUALCOMM by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company’s stock worth $19,855,000 after acquiring an additional 890 shares during the last quarter. F M Investments LLC boosted its position in shares of QUALCOMM by 40.9% in the fourth quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company’s stock worth $1,733,000 after acquiring an additional 3,272 shares during the last quarter. One Degree Advisors Inc boosted its position in shares of QUALCOMM by 4.4% in the fourth quarter. One Degree Advisors Inc now owns 2,348 shares of the wireless technology company’s stock worth $361,000 after acquiring an additional 99 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its position in shares of QUALCOMM by 2.9% in the fourth quarter. APG Asset Management US Inc. now owns 35,068 shares of the wireless technology company’s stock worth $5,387,000 after acquiring an additional 992 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

NASDAQ QCOM opened at $143.59 on Thursday. The company has a market capitalization of $158.81 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business’s fifty day moving average is $157.89 and its 200 day moving average is $161.88. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.37%. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 20,762 shares in the company, 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 30,018 shares of company stock worth $4,955,613 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated 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 and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $202.64.

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.