QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,678 shares of the wireless technology company's stock after purchasing an additional 16,266 shares during the period. Alpha Cubed Investments LLC's holdings in QUALCOMM were worth $24,682,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QCOM. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its stake 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 valued at $26,000 after buying an additional 70 shares during the last quarter. WFA Asset Management Corp purchased a new position in QUALCOMM during the first quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the fourth quarter valued at $30,000. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Citigroup boosted their price target on QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Bank of America decreased their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $188.00.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $2.03 on Tuesday, hitting $160.12. 2,430,334 shares of the company were exchanged, compared to its average volume of 8,518,172. The stock has a market capitalization of $175.81 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The company has a 50-day moving average price of $151.53 and a 200 day moving average price of $155.01. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.22%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were 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 approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,747 shares of company stock worth $8,402,174 over the last 90 days. Company insiders own 0.08% of the company's stock.

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.