WealthShield Partners LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• WealthShield Partners LLC acquired 4,625 shares of QUALCOMM Incorporated, valued at approximately $710,000, during the 1st quarter of the year.
• QUALCOMM announced a quarterly dividend of $0.89 per share to be paid on September 25th, representing an annualized yield of 2.4%.
• JPMorgan Chase & Co. and Sanford C. Bernstein recently raised their target prices on QUALCOMM shares to $200.00 and $185.00, respectively, indicating strong confidence in the company's growth potential.

WealthShield Partners LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,625 shares of the wireless technology company's stock, valued at approximately $710,000.

A number of other institutional investors have also recently modified their holdings of the business. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its position in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp purchased a new position in QUALCOMM during the first quarter valued at $27,000. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was 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 have sold 424,099 shares of company stock valued at $8,352,355 in the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 0.0%

QCOM traded up $0.06 on Thursday, hitting $145.90. The company had a trading volume of 6,745,992 shares, compared to its average volume of 8,688,162. 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 firm has a market cap of $157.43 billion, a P/E ratio of 14.07, a PEG ratio of 2.13 and a beta of 1.23. The company's fifty day moving average price is $155.03 and its 200 day moving average price is $154.45. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $181.10.

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.