Argyle Capital Management LLC Buys 1,700 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Argyle Capital Management LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 73.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,009 shares of the wireless technology company's stock after buying an additional 1,700 shares during the period. Argyle Capital Management LLC's holdings in QUALCOMM were worth $616,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter worth $30,000. Finally, Wood Tarver Financial Group LLC acquired a new position in QUALCOMM during the fourth quarter worth $31,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QCOM stock traded down $0.22 during mid-day trading on Friday, hitting $162.11. The company had a trading volume of 4,280,773 shares, compared to its average volume of 8,538,196. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The stock's fifty day moving average price is $151.32 and its two-hundred day moving average price is $154.93. The firm has a market cap of $177.99 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. QUALCOMM's revenue was up 17.0% on a year-over-year basis. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.89 per share. This is an increase 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 2.20%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 425,016 shares of company stock valued at $8,437,440. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on QCOM shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Finally, Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $186.96.

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.