Lyell Wealth Management LP Makes New $205,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Lyell Wealth Management LP acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,417 shares of the wireless technology company’s stock, valued at approximately $205,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC increased its stake in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at $29,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at $40,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on QCOM. Mizuho raised their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Barclays raised their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Cantor Fitzgerald lifted their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $0.87 during midday trading on Thursday, reaching $162.76. The company’s stock had a trading volume of 3,749,406 shares, compared to its average volume of 8,506,419. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The firm has a 50 day moving average price of $165.43 and a 200-day moving average price of $143.97. The stock has a market capitalization of $181.64 billion, a P/E ratio of 23.50, a PEG ratio of 2.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.09%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,260 shares of company stock worth $5,973,728. Insiders own 0.08% of the company’s stock.

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.