Warm Springs Advisors Inc. Invests $1.11 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Warm Springs Advisors Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,220 shares of the wireless technology company’s stock, valued at approximately $1,109,000. QUALCOMM comprises 1.0% of Warm Springs Advisors Inc.’s investment portfolio, making the stock its 29th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Cache Advisors LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $533,000. GF Fund Management CO. LTD. purchased a new position in shares of QUALCOMM in the fourth quarter valued at $32,751,000. Parr Mcknight Wealth Management Group LLC bought a new stake in QUALCOMM during the fourth quarter valued at $2,973,000. GTS Securities LLC boosted its stake in QUALCOMM by 131.2% during the fourth quarter. GTS Securities LLC now owns 52,589 shares of the wireless technology company’s stock valued at $8,079,000 after buying an additional 29,841 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in QUALCOMM during the fourth quarter valued at $131,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QCOM shares. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $192.08.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares in the company, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock worth $1,818,305 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

QUALCOMM stock opened at $145.38 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $159.63 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm has a 50 day simple moving average of $145.46 and a 200-day simple moving average of $156.40. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. QUALCOMM’s dividend payout ratio is 36.25%.

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.