10,207 Shares in QUALCOMM Incorporated $QCOM Bought by M Holdings Securities Inc.

Key Points

• M Holdings Securities Inc. has acquired a new position in QUALCOMM by purchasing 10,207 shares worth approximately $1,568,000 in the first quarter of 2023.
• QUALCOMM recently reported earnings of $2.77 per share, exceeding expectations, along with a revenue of $10.37 billion, marking a 10.4% year-over-year increase.
• The company announced a quarterly dividend of $0.89 per share, set to be paid on September 25th, representing an annual yield of 2.3%.

M Holdings Securities Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,207 shares of the wireless technology company's stock, valued at approximately $1,568,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Strategies LLC raised its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its stake in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in QUALCOMM by 2.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after acquiring an additional 69 shares during the last quarter. Collaborative Wealth Managment Inc. increased its stake in QUALCOMM by 5.1% in the 1st quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock worth $217,000 after acquiring an additional 69 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its stake in QUALCOMM by 0.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after acquiring an additional 69 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.2%

Shares of NASDAQ QCOM opened at $157.85 on Monday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10. The stock has a market capitalization of $170.32 billion, a PE ratio of 15.22, a PEG ratio of 2.30 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $155.73 and a 200-day simple moving average of $153.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 EPS. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM's dividend payout ratio is currently 34.33%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Piper Sandler reduced their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. UBS Group lifted their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $181.10.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last ninety days. Insiders own 0.08% of the company's stock.

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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