DSG Capital Advisors LLC Purchases New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

DSG Capital Advisors LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,422 shares of the wireless technology company’s stock, valued at approximately $1,601,000.

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares during the last quarter. Howard Bailey Securities LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $240,000. Greenup Street Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $2,256,000. Teza Capital Management LLC purchased a new position in QUALCOMM in the fourth quarter worth $1,541,000. Finally, Purkiss Capital Advisors LLC purchased a new position in QUALCOMM during the 4th quarter worth $303,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $148.63 on Wednesday. The business has a 50 day moving average price of $145.01 and a 200 day moving average price of $155.94. The company has a market capitalization of $163.20 billion, a P/E ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. 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) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 earnings per share. Sell-side analysts expect 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. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Susquehanna cut their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $192.08.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares of the company’s stock, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,568 shares of company stock valued at $1,818,305. Corporate 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.