By otakuyassine3@gmail.com 
Burney Co. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 665.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,911 shares of the wireless technology company’s stock after purchasing an additional 127,722 shares during the quarter. QUALCOMM comprises 0.8% of Burney Co.’s holdings, making the stock its 27th biggest position. Burney Co.’s holdings in QUALCOMM were worth $22,568,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its stake in QUALCOMM by 9.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 26,153 shares of the wireless technology company’s stock valued at $5,209,000 after acquiring an additional 2,190 shares during the period. Massachusetts Financial Services Co. MA lifted its position in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. Quantbot Technologies LP purchased a new stake in QUALCOMM in the second quarter valued at $2,995,000. WealthPLAN Partners LLC grew its position in QUALCOMM by 21.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 1,634 shares of the wireless technology company’s stock worth $325,000 after purchasing an additional 288 shares during the period. Finally, Luts & Greenleigh Group Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $548,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Insider Buying and Selling
In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on QCOM. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Susquehanna decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $207.11.
QUALCOMM Trading Up 2.0 %
NASDAQ QCOM opened at $162.66 on Wednesday. The company has a 50-day moving average of $159.38 and a 200-day moving average of $169.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The company has a market cap of $180.72 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.65 and a beta of 1.25.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.
QUALCOMM 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.
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