Burney Co. Purchases 127,722 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Burney Co. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 665.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 146,911 shares of the wireless technology company’s stock after acquiring an additional 127,722 shares during the period. QUALCOMM accounts for approximately 0.8% of Burney Co.’s portfolio, making the stock its 27th largest holding. Burney Co.’s holdings in QUALCOMM were worth $22,568,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the 3rd quarter valued at about $26,000. HWG Holdings LP bought a new position in QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. Sanford C. Bernstein boosted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Loop Capital assumed coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Susquehanna decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Stock Up 2.0 %

NASDAQ QCOM opened at $162.66 on Wednesday. The stock has a market cap of $180.72 billion, a PE ratio of 18.09, a P/E/G ratio of 2.65 and a beta of 1.25. The stock’s 50 day moving average is $159.38 and its 200 day moving average is $169.37. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. 0.08% of the stock is owned by corporate 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.