Polymer Capital Management US LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Polymer Capital Management US LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,552 shares of the wireless technology company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM in the 3rd quarter worth approximately $39,000. MML Investors Services LLC raised its holdings in QUALCOMM by 8.3% during the 3rd quarter. MML Investors Services LLC now owns 276,610 shares of the wireless technology company’s stock valued at $47,038,000 after acquiring an additional 21,216 shares during the period. Groupama Asset Managment raised its stake in shares of QUALCOMM by 31.8% during the 3rd quarter. Groupama Asset Managment now owns 32,995 shares of the wireless technology company’s stock valued at $5,611,000 after purchasing an additional 7,969 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of QUALCOMM by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 526,616 shares of the wireless technology company’s stock worth $89,551,000 after buying an additional 3,171 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC lifted its stake in QUALCOMM by 3.1% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 7,410 shares of the wireless technology company’s stock worth $1,260,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $129.72 on Tuesday. The business has a fifty day moving average of $160.91 and a 200 day moving average of $162.74. The firm has a market capitalization of $143.47 billion, a P/E ratio of 13.86, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $120.80 and a one 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.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’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 sale, the insider now 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 sale 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 stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,749 shares of company stock worth $4,920,347 over the last quarter. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on QCOM. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.