Burling Wealth Partners LLC Purchases New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Burling Wealth Partners LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,407 shares of the wireless technology company's stock, valued at approximately $831,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the 4th quarter worth about $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $201.21.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock valued at $5,047,052 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

QCOM stock opened at $140.51 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a market cap of $155.40 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock's fifty day moving average price is $151.11 and its 200-day moving average price is $159.77.

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 for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. 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.

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