Blue Sky Capital Consultants Group Inc. Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Sky Capital Consultants Group Inc. acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,387 shares of the wireless technology company's stock, valued at approximately $674,000.

Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the 4th quarter valued at $33,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 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 12,568 shares of company stock worth $1,818,305 in the last ninety days. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research 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. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $1.03 during trading hours on Wednesday, hitting $147.60. 7,002,442 shares of the stock were exchanged, compared to its average volume of 8,608,563. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The firm's fifty day moving average price is $145.01 and its 200 day moving average price is $155.94. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market cap of $162.06 billion, a P/E ratio of 15.77, a P/E/G ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the business earned $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate 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 issued a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

QUALCOMM Company 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.