Newbridge Financial Services Group Inc. Invests $409,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Newbridge Financial Services Group Inc. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,662 shares of the wireless technology company's stock, valued at approximately $409,000.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $2,058,000. Burney Co. grew its position in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after buying an additional 127,722 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after buying an additional 51,879 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on QCOM shares. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a "hold" rating and a $180.00 price objective on the stock. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. UBS Group raised their target price on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Down 1.0 %

QCOM traded down $1.70 during trading on Wednesday, hitting $170.29. The company had a trading volume of 5,502,046 shares, compared to its average volume of 7,879,667. The firm's 50-day moving average price is $162.50 and its 200 day moving average price is $165.47. The company has a market capitalization of $188.34 billion, a PE ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a one year low of $148.41 and a one year high of $230.63.

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 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is presently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,268 shares of company stock worth $7,785,781. 0.08% of the stock is owned by company insiders.

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.