Ironwood Investment Counsel LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ironwood Investment Counsel LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,504 shares of the wireless technology company's stock after buying an additional 1,653 shares during the quarter. QUALCOMM accounts for about 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 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $29,000. Planning Capital Management Corp raised its holdings 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 worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QCOM. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,555 shares of company stock worth $5,094,134 in the last quarter. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $4.64 during midday trading on Friday, hitting $156.58. The company's stock had a trading volume of 5,306,194 shares, compared to its average volume of 8,248,235. The company has a market cap of $173.18 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The business's 50 day simple moving average is $164.68 and its 200 day simple moving average is $164.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) 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.