Retirement Guys Formula LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Retirement Guys Formula LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,706 shares of the wireless technology company's stock, valued at approximately $1,479,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Petros Family Wealth LLC raised its position in shares of QUALCOMM by 62.8% in the 1st quarter. Petros Family Wealth LLC now owns 5,201 shares of the wireless technology company's stock worth $799,000 after acquiring an additional 2,006 shares in the last quarter. Embree Financial Group grew its stake in QUALCOMM by 7.1% in the first quarter. Embree Financial Group now owns 1,613 shares of the wireless technology company's stock valued at $248,000 after purchasing an additional 107 shares during the last quarter. Keudell Morrison Wealth Management grew its stake in QUALCOMM by 1.4% in the first quarter. Keudell Morrison Wealth Management now owns 15,879 shares of the wireless technology company's stock valued at $2,439,000 after purchasing an additional 217 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in QUALCOMM by 482.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 518 shares of the wireless technology company's stock worth $80,000 after purchasing an additional 429 shares in the last quarter. Finally, Legacy Advisors LLC lifted its position in shares of QUALCOMM by 16.6% during the first quarter. Legacy Advisors LLC now owns 5,951 shares of the wireless technology company's stock valued at $914,000 after buying an additional 848 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $186.96.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $2.57 during trading on Tuesday, hitting $155.71. 7,681,717 shares of the stock traded hands, compared to its average volume of 8,580,993. 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 fifty day moving average price of $147.82 and a two-hundred day moving average price of $154.83. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a market cap of $170.97 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.95 and a beta of 1.26.

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 for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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 of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

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.