Newbridge Financial Services Group Inc. Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Newbridge Financial Services Group Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304 shares of the wireless technology company’s stock after purchasing an additional 533 shares during the period. Newbridge Financial Services Group Inc.’s holdings in QUALCOMM were worth $478,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter valued at $2,507,978,000. International Assets Investment Management LLC grew its holdings in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on QCOM. KeyCorp raised their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Wolfe Research increased their target price on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Bank of America increased their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. TD Cowen increased their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.74.

QUALCOMM Stock Up 3.2 %

Shares of QUALCOMM stock traded up $7.16 on Tuesday, hitting $229.38. 5,739,002 shares of the company’s stock traded hands, compared to its average volume of 8,877,101. The stock has a market cap of $255.99 billion, a P/E ratio of 30.71, a PEG ratio of 2.62 and a beta of 1.29. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $188.58 and its 200 day moving average is $164.88. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $229.50.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.48%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 over the last ninety days. 0.08% of the stock is owned by 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.