Empire Financial Management Company LLC Acquires 3,090 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Empire Financial Management Company LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,738 shares of the wireless technology company's stock after buying an additional 3,090 shares during the quarter. Empire Financial Management Company LLC's holdings in QUALCOMM were worth $1,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC raised its position in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank acquired a new position in QUALCOMM during the 4th quarter valued at approximately $2,721,882,000. Amundi grew its stake 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its position in QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock worth $1,485,575,000 after buying an additional 193,236 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus price target of $201.21.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 648 shares of the company's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the completion of the sale, the chief financial officer now owns 56,445 shares in the company, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $5,047,052 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 2.0 %

Shares of QCOM stock traded down $2.91 during trading on Monday, hitting $145.65. 2,193,445 shares of the company were exchanged, compared to its average volume of 8,871,840. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $161.09 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 2.01 and a beta of 1.28. The business's 50-day simple moving average is $150.11 and its 200 day simple moving average is $159.37.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.44%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 38.03%.

QUALCOMM Company 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.