Barlow Wealth Partners Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Barlow Wealth Partners Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,200 shares of the wireless technology company’s stock, valued at approximately $318,000.

A number of other hedge funds have also modified their holdings of the business. Financial Gravity Asset Management Inc. boosted its position in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $32,000. Fortitude Family Office LLC acquired a new position in QUALCOMM in the fourth quarter valued at $35,000. Cranbrook Wealth Management LLC lifted its position in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after buying an additional 163,963 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Finally, Benchmark restated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Activity at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock worth $7,796,128 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $1.70 during trading on Tuesday, reaching $180.15. 8,005,698 shares of the company’s stock traded hands, compared to its average volume of 8,727,156. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a 50 day moving average of $168.62 and a 200-day moving average of $148.09. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $184.31. The stock has a market capitalization of $201.05 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

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.