Burney Co. Has $22.57 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Burney Co. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 665.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,911 shares of the wireless technology company's stock after acquiring an additional 127,722 shares during the period. QUALCOMM comprises about 0.8% of Burney Co.'s investment portfolio, making the stock its 27th largest position. Burney Co.'s holdings in QUALCOMM were worth $22,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter valued at about $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $30,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 3.1 %

Shares of QCOM traded up $4.88 during mid-day trading on Wednesday, hitting $164.41. 9,243,933 shares of the company's stock were exchanged, compared to its average volume of 7,061,681. The company has a 50-day simple moving average of $159.38 and a 200 day simple moving average of $169.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $182.66 billion, a PE ratio of 18.29, a P/E/G ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QCOM. Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Benchmark reiterated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $207.11.

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.