Private Capital Management LLC Purchases 1,700 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Private Capital Management LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 73.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,005 shares of the wireless technology company's stock after buying an additional 1,700 shares during the period. Private Capital Management LLC's holdings in QUALCOMM were worth $615,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its holdings 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 valued at $4,239,000 after acquiring an additional 4,955 shares in the last quarter. Burney Co. grew its position in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after acquiring an additional 127,722 shares during the last quarter. Howard Bailey Securities LLC bought a new stake in QUALCOMM during the 4th quarter worth $240,000. Greenup Street Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,256,000. Finally, MFA Wealth Services bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $457,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QCOM 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 8,913,067. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a market capitalization of $167.45 billion, a P/E ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.29. The stock's 50 day simple moving average is $145.94 and its 200-day simple moving average is $156.92.

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 (EPS) 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 company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the business posted $2.44 earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.33%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QCOM. Wells Fargo & Company cut their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Benchmark lowered their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $192.08.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the business's stock in a transaction dated 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 in the company, valued at $80,596.63. The trade was a 61.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business'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 transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock valued at $1,948,379 over the last 90 days. 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.