Ridgewood Investments LLC Purchases 1,225 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ridgewood Investments LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the first quarter, Holdings Channel.com reports. The firm owned 14,083 shares of the wireless technology company’s stock after buying an additional 1,225 shares during the period. QUALCOMM comprises about 1.0% of Ridgewood Investments LLC’s investment portfolio, making the stock its 13th biggest position. Ridgewood Investments LLC’s holdings in QUALCOMM were worth $2,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Geode Capital Management LLC grew its stake in QUALCOMM by 2.5% in the 4th 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 buying an additional 670,432 shares in the last quarter. Northern Trust Corp lifted its position in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of QUALCOMM by 17.0% in the fourth 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 worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the period. Franklin Resources Inc. grew its position in shares of QUALCOMM by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after purchasing an additional 709,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of QUALCOMM by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company’s stock valued at $692,747,000 after purchasing an additional 138,257 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $158.40 on Friday. The firm has a market cap of $173.92 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.04 and a beta of 1.26. The firm’s fifty day moving average is $154.60 and its 200 day moving average is $155.00. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.64. 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, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period last year, the firm earned $2.44 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.25%. QUALCOMM’s payout ratio is currently 36.25%.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. UBS Group upped their price target on QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $184.86.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company’s stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by insiders.

QUALCOMM 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.