Curat Global LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Curat Global LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,430 shares of the wireless technology company's stock, valued at approximately $373,000.

Several other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Amundi increased its holdings in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $527,053,000. GAMMA Investing LLC boosted its position in shares of QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the period. Finally, Northern Trust Corp boosted its position in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $1.68 during trading hours on Friday, hitting $149.24. The company's stock had a trading volume of 5,789,125 shares, compared to its average volume of 8,722,293. The company has a 50 day moving average of $143.61 and a 200 day moving average of $155.12. The stock has a market cap of $163.87 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results 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. 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 analysts' expectations of $10.58 billion. During the same period in the previous year, the business posted $2.44 EPS. The business's revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. 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 yield of 2.39%. QUALCOMM's dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QCOM. Susquehanna dropped their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average price target of $189.88.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 425,064 shares of company stock worth $8,381,948. Company 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.