Voleon Capital Management LP Acquires New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Voleon Capital Management LP bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,740 shares of the wireless technology company's stock, valued at approximately $2,418,000.

A number of other institutional investors have also added to or reduced their stakes in QCOM. TBH Global Asset Management LLC raised its stake in shares of 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 worth $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc grew its holdings in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the last quarter. CFS Investment Advisory Services LLC grew its holdings in 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 worth $929,000 after purchasing an additional 65 shares during the last quarter. Toth Financial Advisory Corp increased its position in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after purchasing an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in shares of QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after purchasing an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.1 %

Shares of QUALCOMM stock opened at $148.46 on Thursday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The firm's 50-day moving average price is $148.68 and its 200 day moving average price is $159.06. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $164.20 billion, a PE ratio of 15.86, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.40%. QUALCOMM's payout ratio is presently 38.03%.

Analysts Set New Price Targets

Several brokerages recently issued reports on QCOM. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Citigroup cut their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Benchmark reissued a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $200.86.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was 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 owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,666 shares of company stock valued at $5,047,052. Corporate insiders own 0.08% of the company's stock.

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.

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