Apollon Wealth Management LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Apollon Wealth Management LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 44.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,927 shares of the wireless technology company's stock after buying an additional 13,247 shares during the quarter. Apollon Wealth Management LLC's holdings in QUALCOMM were worth $6,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QCOM. Banque Transatlantique SA bought a new stake in QUALCOMM in the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM during the 4th quarter valued at about $30,000. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 over the last quarter. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 0.9%

Shares of QUALCOMM stock traded up $1.40 during midday trading on Friday, hitting $154.01. The company had a trading volume of 4,683,144 shares, compared to its average volume of 8,478,220. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a market capitalization of $169.10 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.99 and a beta of 1.26. The company has a 50 day moving average of $153.76 and a 200 day moving average of $154.96. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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 company 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 quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.31%. QUALCOMM's dividend payout ratio is currently 36.25%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on QCOM shares. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Susquehanna lowered their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn raised 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 for the company in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $186.00.

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.