31,930 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,930 shares of the wireless technology company's stock, valued at approximately $4,905,000.

Several other hedge funds have also recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV lifted its stake in shares of QUALCOMM by 3.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 339,461 shares of the wireless technology company's stock worth $53,377,000 after purchasing an additional 12,358 shares during the period. Nan Shan Life Insurance Co. Ltd. boosted its stake in shares of QUALCOMM by 28.7% during the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 533,957 shares of the wireless technology company's stock worth $82,026,000 after acquiring an additional 119,015 shares during the last quarter. NorthRock Partners LLC grew its position in shares of QUALCOMM by 108.7% during the 4th quarter. NorthRock Partners LLC now owns 13,481 shares of the wireless technology company's stock valued at $2,071,000 after acquiring an additional 7,021 shares during the period. Northeast Financial Consultants Inc increased its stake in shares of QUALCOMM by 3.8% in the 4th quarter. Northeast Financial Consultants Inc now owns 2,453 shares of the wireless technology company's stock worth $377,000 after purchasing an additional 89 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in QUALCOMM in the 4th quarter worth $1,576,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on QCOM. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $192.08.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares of the company's stock, valued at $7,423,464.24. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 0.1%

Shares of NASDAQ QCOM traded down $0.11 during trading hours on Friday, hitting $152.50. 6,646,322 shares of the company traded hands, compared to its average volume of 8,913,067. The stock has a market capitalization of $167.45 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company's 50 day moving average price is $145.95 and its 200 day moving average price is $157.08. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. QUALCOMM's dividend payout ratio (DPR) 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.