Van Cleef Asset Management Inc Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Van Cleef Asset Management Inc bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,650 shares of the wireless technology company’s stock, valued at approximately $239,000.

Several other large investors also recently modified their holdings of the business. Founders Financial Securities LLC bought a new position in QUALCOMM during the 3rd quarter worth about $327,000. GHP Investment Advisors Inc. grew its holdings in shares of QUALCOMM by 101.4% during the third quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock worth $81,000 after buying an additional 373 shares in the last quarter. Strategic Blueprint LLC raised its position in QUALCOMM by 23.0% in the 3rd quarter. Strategic Blueprint LLC now owns 3,755 shares of the wireless technology company’s stock valued at $417,000 after buying an additional 701 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in QUALCOMM by 12.1% in the 3rd quarter. Proficio Capital Partners LLC now owns 3,815 shares of the wireless technology company’s stock valued at $424,000 after acquiring an additional 412 shares in the last quarter. Finally, Capital Asset Advisory Services LLC boosted its position in QUALCOMM by 4.1% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 9,602 shares of the wireless technology company’s stock worth $1,067,000 after acquiring an additional 374 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

QUALCOMM Stock Performance

QCOM traded down $0.33 during trading on Thursday, hitting $163.30. The stock had a trading volume of 6,212,797 shares, compared to its average volume of 8,540,617. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a 50 day moving average price of $165.43 and a 200-day moving average price of $143.97. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The firm has a market cap of $182.24 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 2.21 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted 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 company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Piper Sandler boosted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Barclays lifted their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, Benchmark initiated coverage on QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.86.

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.