Alteri Wealth LLC Purchases New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alteri Wealth LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,105 shares of the wireless technology company's stock, valued at approximately $1,091,000.

Other hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth $38,000. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the transaction, the chief financial officer now directly owns 53,112 shares in the company, valued at $7,423,464.24. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,599 shares of company stock valued at $5,733,290 over the last three months. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on QCOM shares. Susquehanna dropped their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Piper Sandler cut their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Loop Capital decreased their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $192.58.

QUALCOMM Stock Up 2.1 %

Shares of QCOM stock traded up $2.98 on Wednesday, reaching $142.88. 3,898,409 shares of the company were exchanged, compared to its average volume of 8,858,117. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a market cap of $156.88 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.01 and a beta of 1.29. The company has a 50-day moving average of $146.99 and a 200-day moving average of $158.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

About QUALCOMM

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.