3Chopt Investment Partners LLC Acquires 4,498 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

3Chopt Investment Partners LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 36.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,986 shares of the wireless technology company's stock after purchasing an additional 4,498 shares during the period. 3Chopt Investment Partners LLC's holdings in QUALCOMM were worth $2,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.54 on Friday. The firm has a market cap of $174.08 billion, a PE ratio of 16.14, a PEG ratio of 2.04 and a beta of 1.26. 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 Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a fifty day moving average price of $149.44 and a 200 day moving average price of $154.84.

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

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a $0.89 dividend. The ex-dividend date was 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 yield of 2.25%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $186.96.

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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