Cache Advisors LLC Takes $533,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cache Advisors LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,469 shares of the wireless technology company's stock, valued at approximately $533,000.

A number of other hedge funds have also made changes to their positions in QCOM. Tallon Kerry Patrick acquired a new stake in shares of QUALCOMM during the fourth quarter worth $207,000. LaFleur & Godfrey LLC lifted its holdings in shares of QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after purchasing an additional 300 shares during the last quarter. Avior Wealth Management LLC boosted its position in QUALCOMM by 29.0% during the 4th quarter. Avior Wealth Management LLC now owns 15,531 shares of the wireless technology company's stock valued at $2,386,000 after purchasing an additional 3,493 shares during the period. Red Door Wealth Management LLC grew its stake in QUALCOMM by 5.8% during the 4th quarter. Red Door Wealth Management LLC now owns 45,380 shares of the wireless technology company's stock worth $6,971,000 after buying an additional 2,496 shares during the last quarter. Finally, Secure Asset Management LLC increased its position in QUALCOMM by 11.3% in the fourth quarter. Secure Asset Management LLC now owns 11,491 shares of the wireless technology company's stock worth $1,765,000 after buying an additional 1,163 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,568 shares of company stock worth $1,818,305. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Finally, Benchmark cut their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average target price of $192.08.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $3.25 during midday trading on Tuesday, hitting $148.63. The company had a trading volume of 9,775,711 shares, compared to its average volume of 8,853,042. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The business's 50 day simple moving average is $145.20 and its two-hundred day simple moving average is $155.99. The stock has a market cap of $163.20 billion, a PE ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.29. 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 - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is presently 36.25%.

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.