Parvin Asset Management LLC Invests $554,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Parvin Asset Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,605 shares of the wireless technology company's stock, valued at approximately $554,000.

Several other institutional investors also recently made changes to their positions in the stock. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares during the last quarter. PDS Planning Inc boosted its position in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the period. Toth Financial Advisory Corp raised its position in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after buying an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC boosted its holdings in shares of QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after acquiring an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after acquiring an additional 65 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the firm's 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 sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $13.25 during midday trading on Thursday, reaching $135.21. 22,792,863 shares of the company's stock were exchanged, compared to its average volume of 8,939,605. The firm has a market capitalization of $149.54 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company's 50 day simple moving average is $148.16 and its two-hundred day simple moving average is $158.76. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. 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 (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the firm posted $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.63%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday. Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday. Finally, Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $194.11.

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.