2,363 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Riverwater Partners LLC

Riverwater Partners LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,363 shares of the wireless technology company's stock, valued at approximately $363,000.

A number of other large investors have also recently made changes to their positions in QCOM. Eagle Strategies LLC boosted its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the period. TBH Global Asset Management LLC boosted its position in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc grew its holdings in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the period. Finally, Cassady Schiller Wealth Management LLC raised its position in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after acquiring an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the transaction, the chief financial officer now owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 0.5%

Shares of QCOM opened at $153.63 on Friday. The firm has a market capitalization of $168.69 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.98 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $225.90. The firm has a fifty day moving average price of $147.30 and a 200-day moving average price of $155.05. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is currently 36.25%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $190.28.

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.

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