Parr Mcknight Wealth Management Group LLC Purchases Shares of 19,353 QUALCOMM Incorporated (NASDAQ:QCOM)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,353 shares of the wireless technology company's stock, valued at approximately $2,973,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi lifted its holdings in shares of QUALCOMM by 36.6% during the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth $527,053,000. Northern Trust Corp boosted its position 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 valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, 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 sold a total of 12,568 shares of company stock worth $1,818,305 in the last quarter. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Citigroup cut their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $147.37 on Friday. The company's 50 day moving average price is $145.68 and its two-hundred day moving average price is $156.54. The firm has a market capitalization of $161.81 billion, a P/E ratio of 15.74, 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 current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

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

QUALCOMM Increases Dividend

The firm 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. This represents a $3.56 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) 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.

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