Berkshire Asset Management LLC PA Purchases 1,272 Shares of QUALCOMM Incorporated $QCOM

Berkshire Asset Management LLC PA grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 297,417 shares of the wireless technology company’s stock after acquiring an additional 1,272 shares during the quarter. QUALCOMM accounts for about 2.0% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 11th largest holding. Berkshire Asset Management LLC PA’s holdings in QUALCOMM were worth $43,155,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at $529,713,000. GAMMA Investing LLC increased its stake in shares of QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of QUALCOMM by 24.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock valued at $1,114,403,000 after acquiring an additional 1,407,797 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $158.90 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a market capitalization of $171.45 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 2.30 and a beta of 1.23. The firm’s fifty day moving average price is $155.80 and its two-hundred day moving average price is $153.38. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 EPS. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM’s payout ratio is 34.33%.

Analysts Set New Price Targets

QCOM has been the subject of several research analyst reports. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. Susquehanna lowered their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Bank of America lowered their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $181.10.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,352,355. 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.