Synergy Investment Management LLC Takes $546,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Synergy Investment Management LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,556 shares of the wireless technology company’s stock, valued at approximately $546,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Robeco Institutional Asset Management B.V. grew its holdings in shares of QUALCOMM by 11.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,659,743 shares of the wireless technology company’s stock worth $282,239,000 after purchasing an additional 171,480 shares in the last quarter. KG&L Capital Management LLC lifted its position in QUALCOMM by 26.4% during the third quarter. KG&L Capital Management LLC now owns 8,568 shares of the wireless technology company’s stock valued at $1,457,000 after purchasing an additional 1,787 shares during the last quarter. CORDA Investment Management LLC. grew its stake in QUALCOMM by 13.9% in the 3rd quarter. CORDA Investment Management LLC. now owns 10,462 shares of the wireless technology company’s stock worth $1,779,000 after buying an additional 1,278 shares in the last quarter. Silicon Valley Capital Partners bought a new position in shares of QUALCOMM in the 3rd quarter worth $85,000. Finally, National Pension Service raised its position in shares of QUALCOMM by 15.3% during the 3rd quarter. National Pension Service now owns 2,398,469 shares of the wireless technology company’s stock valued at $407,860,000 after buying an additional 318,828 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,045 shares of company stock worth $8,237,043. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. One equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 2.3 %

QCOM opened at $153.62 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The stock has a market cap of $169.90 billion, a PE ratio of 16.41, a PEG ratio of 2.01 and a beta of 1.25. The business has a 50 day moving average of $164.84 and a 200-day moving average of $165.47.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

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.