QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the wireless technology company’s stock after purchasing an additional 50,000 shares during the period. QUALCOMM makes up approximately 2.2% of Ardmore Road Asset Management LP’s holdings, making the stock its 18th biggest position. Ardmore Road Asset Management LP’s holdings in QUALCOMM were worth $15,362,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Ascent Group LLC raised its position in shares of QUALCOMM by 241.6% during the 3rd quarter. Ascent Group LLC now owns 9,665 shares of the wireless technology company’s stock worth $1,644,000 after buying an additional 6,836 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in QUALCOMM by 31.4% during the third quarter. Hilltop Holdings Inc. now owns 7,349 shares of the wireless technology company’s stock worth $1,250,000 after purchasing an additional 1,758 shares in the last quarter. HighTower Advisors LLC lifted its position in QUALCOMM by 7.6% in the third quarter. HighTower Advisors LLC now owns 1,299,006 shares of the wireless technology company’s stock worth $221,391,000 after purchasing an additional 91,354 shares during the period. Heard Capital LLC boosted its stake in QUALCOMM by 12.2% during the 3rd quarter. Heard Capital LLC now owns 14,480 shares of the wireless technology company’s stock valued at $2,462,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Harmony Asset Management LLC increased its position in shares of QUALCOMM by 49.5% during the 3rd quarter. Harmony Asset Management LLC now owns 1,902 shares of the wireless technology company’s stock valued at $323,000 after purchasing an additional 630 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated 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 owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last three months. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on QCOM shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $153.05 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a 50-day moving average of $163.66 and a 200-day moving average of $163.64. QUALCOMM Incorporated has a 52 week low of $147.88 and a 52 week high of $230.63. The company has a market capitalization of $169.27 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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

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.