Birchcreek Wealth Management LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Birchcreek Wealth Management LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,681 shares of the wireless technology company’s stock after buying an additional 295 shares during the period. Birchcreek Wealth Management LLC’s holdings in QUALCOMM were worth $532,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of QUALCOMM by 12,998.7% in 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 purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Barclays PLC grew its holdings in shares of QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after purchasing an additional 1,842,868 shares during the period. Invesco Ltd. grew its holdings in shares of QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after purchasing an additional 1,253,173 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after purchasing an additional 1,090,504 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were 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 directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, 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 three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.6 %

QCOM stock traded up $2.62 during midday trading on Monday, reaching $168.28. 2,826,069 shares of the company were exchanged, compared to its average volume of 8,453,062. 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 Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The stock’s 50-day simple moving average is $165.84 and its 200 day simple moving average is $144.94. The company has a market cap of $187.80 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities analysts forecast 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 given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research analyst reports. TD Cowen increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Canaccord Genuity Group increased their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Evercore ISI initiated coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Rosenblatt Securities increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, KeyCorp increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.