Waterway Wealth Management LLC Acquires 865 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Waterway Wealth Management LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,897 shares of the wireless technology company’s stock after purchasing an additional 865 shares during the quarter. QUALCOMM comprises approximately 0.3% of Waterway Wealth Management LLC’s holdings, making the stock its 25th largest position. Waterway Wealth Management LLC’s holdings in QUALCOMM were worth $660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Red Door Wealth Management LLC increased its stake in QUALCOMM by 3.4% during the 1st quarter. Red Door Wealth Management LLC now owns 38,207 shares of the wireless technology company’s stock valued at $6,468,000 after purchasing an additional 1,243 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in shares of QUALCOMM by 2.4% during the first quarter. Cornerstone Wealth Group LLC now owns 31,160 shares of the wireless technology company’s stock valued at $5,275,000 after buying an additional 738 shares during the last quarter. Richardson Capital Management LLC bought a new position in QUALCOMM in the 1st quarter valued at approximately $37,000. River Street Advisors LLC boosted its stake in QUALCOMM by 2.0% during the 1st quarter. River Street Advisors LLC now owns 7,465 shares of the wireless technology company’s stock valued at $1,264,000 after purchasing an additional 145 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of QUALCOMM by 13.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 65,557 shares of the wireless technology company’s stock worth $11,099,000 after purchasing an additional 7,600 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on QCOM shares. Barclays upped their price target on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Bank of America lifted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, TD Cowen increased their price target on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $4.03 during mid-day trading on Friday, hitting $199.18. 15,547,484 shares of the company’s stock traded hands, compared to its average volume of 11,272,695. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company’s 50-day moving average is $195.82 and its two-hundred day moving average is $169.67. The company has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.71%. QUALCOMM’s payout ratio is currently 45.70%.

QUALCOMM 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.