Burney Co. Has $37.60 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Burney Co. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 66.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,776 shares of the wireless technology company's stock after buying an additional 97,865 shares during the quarter. QUALCOMM makes up approximately 1.4% of Burney Co.'s investment portfolio, making the stock its 9th biggest holding. Burney Co.'s holdings in QUALCOMM were worth $37,600,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QCOM. Brighton Jones LLC increased its holdings in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares during the period. Congress Wealth Management LLC DE increased its holdings in shares of QUALCOMM by 20.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 33,158 shares of the wireless technology company's stock valued at $5,094,000 after purchasing an additional 5,670 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $33,000. Finally, Taikang Asset Management Hong Kong Co Ltd lifted its position in QUALCOMM by 99.1% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 44,800 shares of the wireless technology company's stock valued at $6,882,000 after purchasing an additional 22,300 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QCOM. Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Benchmark dropped their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. UBS Group upped their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday. Wells Fargo & Company dropped their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.3%

QCOM traded down $0.44 during trading on Friday, hitting $158.40. The company had a trading volume of 4,800,825 shares, compared to its average volume of 8,341,278. The company has a market cap of $173.92 billion, a PE ratio of 16.13, a P/E/G ratio of 2.06 and a beta of 1.26. The business has a 50-day moving average of $154.48 and a 200-day moving average of $155.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.

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.