May Hill Capital LLC Invests $206,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

May Hill Capital LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,340 shares of the wireless technology company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at $2,058,000. Burney Co. lifted its holdings in shares of QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.4 %

Shares of NASDAQ:QCOM opened at $153.05 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $147.88 and a fifty-two week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $169.27 billion, a PE ratio of 16.35, a P/E/G ratio of 2.01 and a beta of 1.28. The company’s 50-day moving average price is $163.66 and its 200 day moving average price is $163.64.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.22%. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on QCOM shares. Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock valued at $4,685,077. Company insiders own 0.08% of the company’s stock.

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.