Warm Springs Advisors Inc. Makes New $1.11 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Warm Springs Advisors Inc. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,220 shares of the wireless technology company's stock, valued at approximately $1,109,000. QUALCOMM makes up 1.0% of Warm Springs Advisors Inc.'s holdings, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, CoreFirst Bank & Trust bought a new position in QUALCOMM during the fourth quarter worth $33,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Susquehanna dropped 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. Finally, Robert W. Baird dropped their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $192.08.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $1,818,305 over the last ninety days. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.7%

Shares of NASDAQ:QCOM traded down $1.03 during midday trading on Wednesday, hitting $147.60. 7,002,442 shares of the stock were exchanged, compared to its average volume of 8,608,563. The stock has a market capitalization of $162.06 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.01 and a beta of 1.29. 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 business's 50-day moving average price is $145.01 and its 200 day moving average price is $155.94. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63.

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

QUALCOMM Increases Dividend

The company 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 is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is 36.25%.

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.