2,371 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Inscription Capital LLC

Inscription Capital LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,371 shares of the wireless technology company's stock, valued at approximately $401,000.

Other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the fourth quarter valued at $26,000. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares of the company's stock, valued at $7,661,403.70. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Bank of America decreased their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $190.28.

QUALCOMM Stock Down 1.5%

QCOM opened at $154.46 on Wednesday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The business has a 50 day moving average price of $146.71 and a two-hundred day moving average price of $155.12. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a market cap of $169.60 billion, a PE ratio of 15.73, a P/E/G ratio of 1.75 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM's payout ratio is presently 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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