Meeder Asset Management Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1,026.4% during the first quarter, Holdings Channel reports. The firm owned 80,549 shares of the wireless technology company’s stock after purchasing an additional 73,398 shares during the period. Meeder Asset Management Inc.’s holdings in QUALCOMM were worth $10,680,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Moser Wealth Advisors LLC increased its holdings in QUALCOMM by 223.2% in the fourth quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. Capital Directions Investment Advisors LLC lifted its position in shares of QUALCOMM by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. RMR Wealth Builders acquired a new stake in QUALCOMM in the fourth quarter worth $30,000. Valley Brook Capital Group bought a new stake in QUALCOMM in the fourth quarter valued at $30,000. Finally, Addison Advisors LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $32,000. 74.76% of the stock is currently owned by institutional investors.
QUALCOMM stock traded down $4.57 during mid-day trading on Tuesday, reaching $132.86. 413,454 shares of the company’s stock traded hands, compared to its average volume of 10,514,027. The company has a market cap of $150.93 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.27 and a beta of 1.34. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. The stock has a 50 day moving average of $135.51 and a two-hundred day moving average of $142.67. QUALCOMM Incorporated has a 12-month low of $74.09 and a 12-month high of $167.94.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Shareholders of record on Thursday, June 3rd will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, June 2nd. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.65. QUALCOMM’s payout ratio is 77.84%.
QCOM has been the subject of a number of research reports. Raymond James raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 19th. Susquehanna reiterated a “neutral” rating and set a $155.00 price objective (down from $175.00) on shares of QUALCOMM in a report on Monday, April 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Cascend Securities increased their price objective on QUALCOMM from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Finally, Barclays lifted their target price on QUALCOMM from $135.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has an average rating of “Buy” and an average target price of $163.65.
QUALCOMM Company Profile
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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