Transce3nd LLC Invests $59,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Transce3nd LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 383 shares of the wireless technology company’s stock, valued at approximately $59,000.

A number of other hedge funds also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction 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. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock valued at $5,047,052 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QCOM shares. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Hold” and a consensus target price of $201.21.

QUALCOMM Stock Down 0.4 %

QCOM opened at $136.14 on Tuesday. The stock has a market capitalization of $150.57 billion, a P/E ratio of 14.54, 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. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The business’s 50-day simple moving average is $152.41 and its 200-day simple moving average is $160.05.

QUALCOMM (NASDAQ:QCOM) last posted 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 net margin of 25.94% and a return on equity of 39.51%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.61%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

About QUALCOMM

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.