Wedgewood Investors Inc. PA Has $285,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wedgewood Investors Inc. PA reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,856 shares of the wireless technology company’s stock after selling 100 shares during the period. Wedgewood Investors Inc. PA’s holdings in QUALCOMM were worth $285,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Hickory Asset Management Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $456,000. Manchester Capital Management LLC grew its stake in QUALCOMM by 0.4% in the 4th quarter. Manchester Capital Management LLC now owns 24,040 shares of the wireless technology company’s stock valued at $3,693,000 after buying an additional 88 shares during the last quarter. BXM Wealth LLC bought a new position in QUALCOMM in the 4th quarter valued at about $638,000. Nations Financial Group Inc. IA ADV lifted its position in QUALCOMM by 4.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,874 shares of the wireless technology company’s stock worth $3,053,000 after acquiring an additional 889 shares during the last quarter. Finally, WealthPLAN Partners LLC boosted its holdings in shares of QUALCOMM by 50.5% during the fourth quarter. WealthPLAN Partners LLC now owns 2,873 shares of the wireless technology company’s stock worth $441,000 after acquiring an additional 964 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.0 %

Shares of QUALCOMM stock opened at $172.23 on Friday. The firm’s 50 day moving average is $163.13 and its 200 day moving average is $165.50. The firm has a market capitalization of $190.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

About QUALCOMM

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.