Twin Capital Management Inc. Acquires 12,322 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Twin Capital Management Inc. lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 133.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,558 shares of the wireless technology company’s stock after buying an additional 12,322 shares during the quarter. Twin Capital Management Inc.’s holdings in QUALCOMM were worth $3,118,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QCOM. Moneta Group Investment Advisors LLC boosted its stake in shares of QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after acquiring an additional 24,566,978 shares during the period. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at approximately $1,467,351,000. Cowa LLC bought a new position in QUALCOMM during the first quarter valued at approximately $94,000. Morgan Stanley boosted its stake in QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after buying an additional 3,929,586 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.7 %

QCOM traded down $2.78 during trading on Thursday, hitting $161.54. 3,686,274 shares of the stock were exchanged, compared to its average volume of 8,539,593. The firm has a 50 day simple moving average of $164.47 and a 200 day simple moving average of $142.20. The firm has a market cap of $180.28 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.30 and a beta of 1.41. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The company 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 dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.10%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald upped their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays upped their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock worth $7,184,678 in the last ninety days. 0.08% of the stock is owned by company insiders.

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.