Monetta Financial Services Inc. Takes $611,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Monetta Financial Services Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,000 shares of the wireless technology company’s stock, valued at approximately $611,000.

A number of other large investors have also added to or reduced their stakes in QCOM. Joseph P. Lucia & Associates LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth $28,000. Rise Advisors LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $34,000. Stuart Chaussee & Associates Inc. increased its position in QUALCOMM by 49.6% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 67 shares in the last quarter. Crewe Advisors LLC increased its holdings in shares of QUALCOMM by 444.4% in the first quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Finally, Steward Financial Group LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $38,000. Institutional investors own 73.61% of the company’s stock.

QUALCOMM Trading Down 0.5 %

Shares of NASDAQ:QCOM traded down $0.80 during trading on Friday, reaching $150.21. The stock had a trading volume of 5,041,315 shares, compared to its average volume of 8,531,991. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61. QUALCOMM Incorporated has a 52 week low of $118.22 and a 52 week high of $193.58. The firm’s fifty day moving average is $137.27 and its 200 day moving average is $147.29. The stock has a market cap of $168.69 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.87 and a beta of 1.22.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. The firm had revenue of $10.93 billion during the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The company’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the business earned $1.66 earnings per share. As a group, equities analysts forecast that QUALCOMM Incorporated will post 10.95 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, August 31st. QUALCOMM’s dividend payout ratio is presently 26.57%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Sumitomo Mitsui Financial Group downgraded QUALCOMM from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $215.00 to $155.00 in a research report on Monday, April 18th. Susquehanna lowered their price target on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Deutsche Bank Aktiengesellschaft decreased their target price on QUALCOMM from $190.00 to $170.00 in a research report on Wednesday, July 20th. Finally, Tigress Financial raised their target price on QUALCOMM from $195.00 to $238.00 in a research note on Thursday, May 5th. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.35.

Insiders Place Their Bets

In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is owned by insiders.

QUALCOMM Profile

(Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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