Palladium Partners LLC Buys 8,034 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Palladium Partners LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 562.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,463 shares of the wireless technology company’s stock after buying an additional 8,034 shares during the quarter. Palladium Partners LLC’s holdings in QUALCOMM were worth $1,255,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QCOM. PDS Planning Inc boosted its holdings in QUALCOMM by 3.9% in the 4th quarter. PDS Planning Inc now owns 1,867 shares of the wireless technology company’s stock valued at $284,000 after purchasing an additional 70 shares during the period. Bedel Financial Consulting Inc. grew its position in QUALCOMM by 19.5% during the fourth quarter. Bedel Financial Consulting Inc. now owns 459 shares of the wireless technology company’s stock worth $70,000 after buying an additional 75 shares in the last quarter. Intrust Bank NA increased its stake in QUALCOMM by 0.6% during the fourth quarter. Intrust Bank NA now owns 12,303 shares of the wireless technology company’s stock valued at $1,874,000 after acquiring an additional 76 shares during the period. Liberty Wealth Management LLC raised its holdings in QUALCOMM by 12.4% in the 4th quarter. Liberty Wealth Management LLC now owns 699 shares of the wireless technology company’s stock valued at $112,000 after acquiring an additional 77 shares in the last quarter. Finally, Private Ocean LLC lifted its position in shares of QUALCOMM by 14.1% in the 1st quarter. Private Ocean LLC now owns 647 shares of the wireless technology company’s stock worth $86,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 74.76% of the company’s stock.

Shares of NASDAQ QCOM opened at $129.80 on Tuesday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 2.14. The stock has a 50 day moving average price of $135.84 and a 200 day moving average price of $143.00. The stock has a market capitalization of $146.41 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. QUALCOMM Incorporated has a 52 week low of $76.16 and a 52 week high of $167.94.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 28th. The wireless technology company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.41 by $0.49. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $7.62 billion. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The firm’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, research analysts forecast that QUALCOMM Incorporated will post 6.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, June 2nd. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.10%. QUALCOMM’s payout ratio is currently 77.84%.

In related news, EVP Brian Modoff sold 1,510 shares of the firm’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $129.32, for a total value of $195,273.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is owned by insiders.

QCOM has been the subject of several research reports. Mizuho raised their target price on QUALCOMM from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Royal Bank of Canada lifted their price objective on QUALCOMM from $126.00 to $150.00 and gave the company a “sector perform” rating in a report on Thursday, February 4th. Susquehanna reaffirmed a “neutral” rating and set a $155.00 price target (down from $175.00) on shares of QUALCOMM in a report on Monday, April 26th. Raymond James increased their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 19th. Finally, Barclays increased their price objective on shares of QUALCOMM from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and an average target price of $163.65.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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