QUALCOMM Incorporated (NASDAQ:QCOM) Stake Raised by Advisor Resource Council

Advisor Resource Council increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.8% in the 1st quarter, Holdings Channel reports. The fund owned 7,360 shares of the wireless technology company’s stock after purchasing an additional 950 shares during the period. Advisor Resource Council’s holdings in QUALCOMM were worth $1,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Grandview Asset Management LLC lifted its position in shares of QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after buying an additional 62 shares during the period. Tealwood Asset Management Inc. raised its position in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the last quarter. VERITY Wealth Advisors raised its position in QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its position in QUALCOMM by 1.2% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 66 shares during the last quarter. Finally, Transform Wealth LLC raised its position in QUALCOMM by 2.3% in the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after purchasing an additional 66 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The disclosure for this sale can be found here. Insiders have sold 42,185 shares of company stock worth $7,936,005 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.8 %

NASDAQ:QCOM traded up $3.65 on Thursday, reaching $203.81. The company’s stock had a trading volume of 4,996,211 shares, compared to its average volume of 10,966,074. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a market cap of $227.45 billion, a PE ratio of 27.39, a PEG ratio of 2.43 and a beta of 1.27. The business’s 50-day moving average price is $197.39 and its two-hundred day moving average price is $170.48.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on QCOM shares. Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group lifted their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. KeyCorp lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

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.