Ironwood Investment Counsel LLC Purchases 1,653 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ironwood Investment Counsel LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,504 shares of the wireless technology company's stock after buying an additional 1,653 shares during the period. QUALCOMM makes up 1.1% of Ironwood Investment Counsel LLC's portfolio, making the stock its 26th largest position. Ironwood Investment Counsel LLC's holdings in QUALCOMM were worth $6,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. State Street Corp lifted its position in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Geode Capital Management LLC lifted its position in QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Amundi lifted its position in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after purchasing an additional 193,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after purchasing an additional 498,284 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Remove Ads

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ QCOM traded down $0.40 during mid-day trading on Monday, reaching $156.18. 1,554,596 shares of the company's stock traded hands, compared to its average volume of 8,221,713. The stock has a market cap of $172.74 billion, a P/E ratio of 16.68, a PEG ratio of 2.01 and a beta of 1.28. The business has a 50-day simple moving average of $164.68 and a 200 day simple moving average of $164.40. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. 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 (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last quarter. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

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.