Lionshead Wealth Management LLC Invests $752,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Lionshead Wealth Management LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,896 shares of the wireless technology company's stock, valued at approximately $752,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at $2,721,882,000. Amundi increased its stake in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. 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 research note on Thursday, May 1st. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $192.08.

Insider Activity

In related 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 directly owns 461 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,312 shares of company stock valued at $1,948,379 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.19 during midday trading on Friday, hitting $152.42. The company had a trading volume of 2,620,229 shares, compared to its average volume of 8,894,478. The company's 50 day simple moving average is $145.95 and its 200 day simple moving average is $157.08. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The stock has a market cap of $167.36 billion, a price-to-earnings ratio of 16.29, a PEG 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 posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate 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%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $2.44 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 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.