Burford Brothers Inc. Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Burford Brothers Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,223 shares of the wireless technology company’s stock after purchasing an additional 240 shares during the period. Burford Brothers Inc.’s holdings in QUALCOMM were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. grew its position in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC grew its holdings in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter valued at $2,721,882,000. Northern Trust Corp grew its stake in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM opened at $159.09 on Friday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The firm has a market capitalization of $174.68 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The stock’s fifty day moving average is $152.48 and its 200-day moving average is $155.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup boosted their target price on QUALCOMM from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average target price of $186.39.

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.