Folger Nolan Fleming Douglas Capital Management Inc. Buys Shares of 1,577 QUALCOMM Incorporated (NASDAQ:QCOM)

Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,577 shares of the wireless technology company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Strategic Blueprint LLC boosted its stake in shares of QUALCOMM by 23.0% during the 3rd quarter. Strategic Blueprint LLC now owns 3,755 shares of the wireless technology company’s stock worth $417,000 after acquiring an additional 701 shares in the last quarter. SOL Capital Management CO boosted its stake in shares of QUALCOMM by 0.8% during the 3rd quarter. SOL Capital Management CO now owns 12,810 shares of the wireless technology company’s stock worth $1,423,000 after acquiring an additional 100 shares in the last quarter. Simplicity Solutions LLC boosted its stake in shares of QUALCOMM by 2.6% during the 3rd quarter. Simplicity Solutions LLC now owns 36,324 shares of the wireless technology company’s stock worth $4,034,000 after acquiring an additional 917 shares in the last quarter. Grimes & Company Inc. boosted its stake in shares of QUALCOMM by 5.4% during the 3rd quarter. Grimes & Company Inc. now owns 127,614 shares of the wireless technology company’s stock worth $14,173,000 after acquiring an additional 6,518 shares in the last quarter. Finally, Zullo Investment Group Inc. boosted its stake in shares of QUALCOMM by 1.8% during the 3rd quarter. Zullo Investment Group Inc. now owns 6,459 shares of the wireless technology company’s stock worth $717,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $2.36 during midday trading on Friday, hitting $165.66. 7,141,339 shares of the company were exchanged, compared to its average volume of 6,691,146. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market cap of $184.88 billion, a P/E ratio of 24.01, a PEG ratio of 2.24 and a beta of 1.41. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The firm has a 50 day simple moving average of $165.84 and a 200-day simple moving average of $144.47.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.05%. QUALCOMM’s payout ratio is presently 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on QCOM. Piper Sandler upped their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. KeyCorp boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Benchmark started coverage on QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 price objective for the company. Cantor Fitzgerald boosted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays boosted their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

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.