Grandfield & Dodd LLC Buys Shares of 1,668 QUALCOMM Incorporated (NASDAQ:QCOM)

Grandfield & Dodd LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,668 shares of the wireless technology company’s stock, valued at approximately $241,000.

Other large investors have also recently made changes to their positions in the company. Rheos Capital Works Inc. increased its holdings in QUALCOMM by 36.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after acquiring an additional 42,500 shares during the period. Peoples Bank OH purchased a new position in shares of QUALCOMM during the 4th quarter valued at $219,000. HF Advisory Group LLC bought a new position in shares of QUALCOMM in the third quarter worth $629,000. Bank Hapoalim BM raised its position in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares in the last quarter. Finally, NewEdge Wealth LLC boosted its stake in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares during the period. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Barclays raised their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. TD Cowen raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.90.

View Our Latest Research Report on QCOM

QUALCOMM Trading Down 2.4 %

NASDAQ QCOM opened at $157.63 on Friday. The stock has a 50-day moving average of $164.87 and a 200-day moving average of $142.89. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The firm has a market cap of $175.92 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which is available through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the sale, the chief executive officer now directly owns 16,200 shares in the company, valued at approximately $2,747,520. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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