7,220 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Warm Springs Advisors Inc.

Warm Springs Advisors Inc. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 investment portfolio, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.6% in 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 increased its stake in shares of QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter worth $2,721,882,000. Amundi increased its stake in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Finally, Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $192.08.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business'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 sale, the insider now directly owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business's stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $1,818,305 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QCOM traded up $3.25 on Tuesday, reaching $148.63. 9,775,711 shares of the company's stock were exchanged, compared to its average volume of 8,853,042. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $163.20 billion, a PE ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.29. The stock's fifty day moving average price is $145.20 and its 200-day moving average price is $155.99. 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 posted its 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 for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.40%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is presently 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.