Berkshire Asset Management LLC PA Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Berkshire Asset Management LLC PA lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,145 shares of the wireless technology company's stock after selling 9,966 shares during the quarter. QUALCOMM accounts for approximately 2.2% of Berkshire Asset Management LLC PA's portfolio, making the stock its 12th largest position. Berkshire Asset Management LLC PA's holdings in QUALCOMM were worth $45,494,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Paulson Wealth Management Inc. increased its position in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock valued at $475,000 after buying an additional 61 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after purchasing an additional 63 shares during the last quarter. Delta Financial Advisors LLC increased its holdings in QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company's stock worth $548,000 after buying an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC lifted its position in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after purchasing an additional 65 shares during the period. Finally, Toth Financial Advisory Corp grew its position in QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after buying an additional 65 shares during the period. Institutional investors own 74.35% of the company's stock.

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Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company's stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QCOM. StockNews.com raised shares of QUALCOMM from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 4th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Benchmark reiterated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average target price of $205.32.

QUALCOMM Trading Up 3.3 %

Shares of NASDAQ:QCOM traded up $5.18 during trading on Friday, reaching $161.22. The company's stock had a trading volume of 8,725,530 shares, compared to its average volume of 8,297,443. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm's 50 day simple moving average is $164.76 and its two-hundred day simple moving average is $165.03. The stock has a market capitalization of $178.31 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM's dividend payout ratio is presently 36.32%.

About QUALCOMM

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.