6,169 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,169 shares of the wireless technology company's stock, valued at approximately $948,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group bought a new position in shares of QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust purchased a new position in QUALCOMM in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Up 3.3 %

QCOM traded up $4.64 on Wednesday, hitting $144.54. 10,195,505 shares of the company were exchanged, compared to its average volume of 8,885,892. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market cap of $158.70 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm has a 50-day moving average price of $146.99 and a two-hundred day moving average price of $158.00. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm'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 completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,599 shares of company stock valued at $5,733,290 in the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $192.58.

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.