Folger Nolan Fleming Douglas Capital Management Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,577 shares of the wireless technology company’s stock, valued at approximately $228,000.

Several other large investors also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $666,000. Bank OZK acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $222,000. Russell Investments Group Ltd. grew its stake in shares of QUALCOMM by 18.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,007,957 shares of the wireless technology company’s stock valued at $146,161,000 after buying an additional 156,303 shares during the period. Alexander Randolph Advisory Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $305,000. Finally, Valmark Advisers Inc. grew its stake in shares of QUALCOMM by 36.9% in the 4th quarter. Valmark Advisers Inc. now owns 2,876 shares of the wireless technology company’s stock valued at $416,000 after buying an additional 775 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QCOM. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Piper Sandler raised their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Barclays raised their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Price Performance

Shares of QCOM traded up $2.36 during mid-day trading on Friday, reaching $165.66. 7,141,339 shares of the stock traded hands, compared to its average volume of 6,691,146. The firm has a fifty day moving average price of $165.84 and a 200 day moving average price of $144.47. The company has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. 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.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 46.38%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’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 directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 in the last three months. Corporate 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.