Aspetuck Financial Management LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Aspetuck Financial Management LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 9,705 shares of the wireless technology company's stock, valued at approximately $1,491,000. QUALCOMM accounts for about 1.3% of Aspetuck Financial Management LLC's portfolio, making the stock its 29th largest position.

Several other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 1.4%

QCOM stock traded up $2.26 during midday trading on Thursday, reaching $158.19. 6,272,334 shares of the company's stock traded hands, compared to its average volume of 8,514,955. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The business has a 50-day moving average price of $148.57 and a two-hundred day moving average price of $154.84. The company has a market capitalization of $173.69 billion, a P/E ratio of 16.11, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal 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 of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI decreased their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $186.96.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were 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 of the company's stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 423,464 shares of company stock valued at $8,135,164. Corporate 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.