AE Wealth Management LLC Purchases 11,693 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AE Wealth Management LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,974 shares of the wireless technology company's stock after purchasing an additional 11,693 shares during the quarter. AE Wealth Management LLC's holdings in QUALCOMM were worth $15,050,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Winthrop Capital Management LLC lifted its position in shares of QUALCOMM by 4.0% during the first quarter. Winthrop Capital Management LLC now owns 6,771 shares of the wireless technology company's stock worth $1,040,000 after purchasing an additional 259 shares in the last quarter. Burney Co. lifted its holdings in QUALCOMM by 66.6% during the 1st quarter. Burney Co. now owns 244,776 shares of the wireless technology company's stock worth $37,600,000 after buying an additional 97,865 shares in the last quarter. Brooktree Capital Management boosted its position in QUALCOMM by 9.9% in the 1st quarter. Brooktree Capital Management now owns 44,003 shares of the wireless technology company's stock valued at $6,759,000 after buying an additional 3,977 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its holdings in QUALCOMM by 1.6% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 16,508 shares of the wireless technology company's stock valued at $2,536,000 after acquiring an additional 260 shares during the last quarter. Finally, Convergence Investment Partners LLC lifted its position in QUALCOMM by 93.6% during the 1st quarter. Convergence Investment Partners LLC now owns 42,775 shares of the wireless technology company's stock valued at $6,571,000 after purchasing an additional 20,680 shares during the period. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 over the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QCOM shares. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Loop Capital dropped their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, UBS Group increased their target price on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.7%

Shares of NASDAQ:QCOM traded down $1.04 during trading on Thursday, hitting $158.84. 5,007,384 shares of the company were exchanged, compared to its average volume of 7,283,261. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.64. The stock has a market cap of $174.41 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.06 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. The firm has a fifty day moving average price of $154.48 and a two-hundred day moving average price of $155.04.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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 business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 earnings per share. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.24%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

QUALCOMM 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.