Benjamin Edwards Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Benjamin Edwards Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,489 shares of the wireless technology company's stock after acquiring an additional 5,914 shares during the period. Benjamin Edwards Inc.'s holdings in QUALCOMM were worth $45,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust purchased a new stake in QUALCOMM during the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were 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 of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,266 shares of company stock worth $5,267,436. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on QCOM. Loop Capital lowered their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday. Mizuho lowered their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday. Finally, Robert W. Baird cut their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $192.58.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $139.81 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $154.63 billion, a PE ratio of 14.94, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The firm has a fifty day moving average of $147.74 and a 200 day moving average of $158.44.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.55%. QUALCOMM's payout ratio 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.

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