Hickory Asset Management Inc. Buys New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Hickory Asset Management Inc. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,970 shares of the wireless technology company’s stock, valued at approximately $456,000.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM in the third quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM in the fourth quarter valued at $27,000. Planning Capital Management Corp grew its position in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the 3rd quarter valued at about $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Barclays decreased their price objective 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. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, UBS Group lifted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 0.0 %

QUALCOMM stock opened at $172.23 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average is $162.87 and its 200 day moving average is $165.55. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63. The company has a market capitalization of $190.49 billion, a PE ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released 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%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,268 shares of company stock worth $7,785,781. Insiders own 0.08% of the company’s stock.

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.