NorthRock Partners LLC Buys 7,021 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

NorthRock Partners LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 108.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,481 shares of the wireless technology company's stock after purchasing an additional 7,021 shares during the quarter. NorthRock Partners LLC's holdings in QUALCOMM were worth $2,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its position in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after buying an additional 4,955 shares during the period. Burney Co. increased its position in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares during the period. Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $240,000. Greenup Street Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $2,256,000. Finally, MFA Wealth Services bought a new position in QUALCOMM in the 4th quarter worth approximately $457,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $192.08.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.11 on Friday, reaching $152.50. The company's stock had a trading volume of 6,646,322 shares, compared to its average volume of 8,913,068. 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 company has a market cap of $167.45 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.29. The business's fifty day moving average price is $145.94 and its 200 day moving average price is $156.92. 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 issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the firm posted $2.44 earnings per share. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal 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 paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This represents a 61.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock valued at $1,948,379 over the last 90 days. 0.08% of the stock is owned by company insiders.

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.