9,795 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Advisor Resource Council

Advisor Resource Council acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,795 shares of the wireless technology company's stock, valued at approximately $1,505,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the fourth quarter worth $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were 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. Over the last quarter, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $151.32 on Friday. The business's 50-day moving average price is $147.54 and its 200 day moving average price is $154.97. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $215.47. The company has a market capitalization of $166.15 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.98 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 (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm'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 posted $2.44 earnings per share. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Analyst Upgrades and Downgrades

A number of research firms have commented on QCOM. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $190.28.

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.

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