Leigh Baldwin & CO. LLC Buys New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Leigh Baldwin & CO. LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,027 shares of the wireless technology company's stock, valued at approximately $311,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. Howard Bailey Securities LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $240,000. Greenup Street Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $2,256,000. Teza Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Finally, Purkiss Capital Advisors LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $303,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock valued at $8,418,305 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Down 2.1%

Shares of QUALCOMM stock traded down $3.13 on Friday, hitting $145.21. The stock had a trading volume of 3,299,733 shares, compared to its average volume of 8,529,622. The stock has a market cap of $159.44 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 2.01 and a beta of 1.29. The stock's 50-day simple moving average is $144.60 and its two-hundred day simple moving average is $155.74. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 earnings per share. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is presently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark cut their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Susquehanna lowered their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average price target of $192.08.

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.