Burling Wealth Partners LLC Purchases Shares of 5,407 QUALCOMM Incorporated (NASDAQ:QCOM)

Burling Wealth Partners LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,407 shares of the wireless technology company's stock, valued at approximately $831,000.

Several other large investors have also recently added to or reduced their stakes in QCOM. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the period. CFS Investment Advisory Services LLC boosted its position in shares of QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after acquiring an additional 65 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after purchasing an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC increased its position in QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after purchasing an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QUALCOMM stock traded down $2.64 during midday trading on Monday, reaching $145.93. 1,943,470 shares of the stock traded hands, compared to its average volume of 8,870,515. The firm has a fifty day moving average price of $150.11 and a two-hundred day moving average price of $159.37. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a market cap of $161.39 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 38.03%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $201.21.

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.