Assetmark Inc. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Assetmark Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 106.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 565,375 shares of the wireless technology company’s stock after buying an additional 292,174 shares during the quarter. Assetmark Inc.’s holdings in QUALCOMM were worth $86,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the fourth quarter valued at $29,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth about $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock opened at $154.46 on Wednesday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $170.83 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The business has a fifty day moving average of $164.75 and a two-hundred day moving average of $165.34.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,045 shares of company stock worth $8,237,043. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on QCOM. Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

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.