Harvest Fund Management Co. Ltd Has $5.74 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Harvest Fund Management Co. Ltd raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 39,673 shares of the wireless technology company’s stock after acquiring an additional 3,673 shares during the period. QUALCOMM makes up about 0.9% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 19th largest position. Harvest Fund Management Co. Ltd’s holdings in QUALCOMM were worth $5,741,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the third 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 in the last quarter. Legacy Financial Group LLC bought a new stake in QUALCOMM during the third quarter worth $29,000. Fortitude Family Office LLC bought a new stake in QUALCOMM during the fourth quarter worth $35,000. Cranbrook Wealth Management LLC lifted its holdings in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after acquiring an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. lifted its holdings in QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 163,963 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction 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 directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.17 during midday trading on Tuesday, hitting $161.35. 6,605,127 shares of the company’s stock were exchanged, compared to its average volume of 8,601,207. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The stock has a 50-day moving average price of $165.24 and a two-hundred day moving average price of $143.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market cap of $180.07 billion, a P/E ratio of 23.38, a PEG ratio of 2.15 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 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.11%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. Barclays boosted their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Mizuho boosted their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Benchmark began coverage on QUALCOMM in a research note on Tuesday. They issued a “buy” rating and a $200.00 target price on the stock. One 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.