Cairn Investment Group Inc. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Cairn Investment Group Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,469 shares of the wireless technology company’s stock after purchasing an additional 180 shares during the quarter. Cairn Investment Group Inc.’s holdings in QUALCOMM were worth $1,151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. CoreFirst Bank & Trust increased its position in QUALCOMM by 103.1% during the 2nd quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. IAG Wealth Partners LLC raised its stake in shares of QUALCOMM by 62.3% in the 3rd quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock valued at $25,000 after acquiring an additional 86 shares during the period. Sycomore Asset Management raised its stake in shares of QUALCOMM by 150.0% in the 4th quarter. Sycomore Asset Management now owns 230 shares of the wireless technology company’s stock valued at $25,000 after acquiring an additional 138 shares during the period. Glassy Mountain Advisors Inc. purchased a new position in QUALCOMM in the fourth quarter valued at about $28,000. Finally, Syverson Strege & Co boosted its position in shares of QUALCOMM by 124.3% in the second quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock worth $31,000 after buying an additional 133 shares during the period. 70.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on QUALCOMM from $105.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. Bank of America reissued a “buy” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Friday, February 3rd. StockNews.com began coverage on shares of QUALCOMM in a research note on Thursday. They set a “hold” rating on the stock. Barclays raised shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $150.00 in a research report on Monday, January 23rd. Finally, Credit Suisse Group lifted their target price on QUALCOMM from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.48.

QUALCOMM Trading Up 0.2 %

NASDAQ QCOM opened at $120.73 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.41 and a current ratio of 2.09. QUALCOMM Incorporated has a one year low of $101.93 and a one year high of $161.30. The company has a 50-day simple moving average of $125.43 and a 200-day simple moving average of $121.05. The firm has a market capitalization of $134.61 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.02. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.57 billion. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. QUALCOMM’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.96 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 8.21 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. QUALCOMM’s payout ratio is currently 28.90%.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 27,626 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the completion of the transaction, the insider now owns 23,637 shares in the company, valued at $3,107,792.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey William Henderson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total value of $310,125.00. Following the completion of the transaction, the director now directly owns 4,605 shares of the company’s stock, valued at approximately $571,250.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 27,626 shares of QUALCOMM stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $131.48, for a total value of $3,632,266.48. Following the sale, the insider now directly owns 23,637 shares in the company, valued at approximately $3,107,792.76. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

About QUALCOMM

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.