BNC Wealth Management LLC Has $2.79 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

BNC Wealth Management LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 606.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,172 shares of the wireless technology company's stock after purchasing an additional 15,600 shares during the period. BNC Wealth Management LLC's holdings in QUALCOMM were worth $2,791,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QCOM. CVA Family Office LLC raised its holdings in QUALCOMM by 11.7% during the 1st quarter. CVA Family Office LLC now owns 3,449 shares of the wireless technology company's stock worth $530,000 after purchasing an additional 360 shares during the last quarter. Elevation Point Wealth Partners LLC raised its stake in shares of QUALCOMM by 32.1% during the first quarter. Elevation Point Wealth Partners LLC now owns 27,494 shares of the wireless technology company's stock worth $4,223,000 after buying an additional 6,685 shares during the last quarter. Krilogy Financial LLC boosted its stake in QUALCOMM by 2.6% in the first quarter. Krilogy Financial LLC now owns 10,861 shares of the wireless technology company's stock valued at $1,668,000 after acquiring an additional 274 shares during the last quarter. CCM Investment Advisers LLC boosted its stake in QUALCOMM by 15.2% in the first quarter. CCM Investment Advisers LLC now owns 86,632 shares of the wireless technology company's stock valued at $13,308,000 after acquiring an additional 11,407 shares during the last quarter. Finally, Everhart Financial Group Inc. grew its holdings in QUALCOMM by 67.2% during the 1st quarter. Everhart Financial Group Inc. now owns 4,646 shares of the wireless technology company's stock worth $714,000 after acquiring an additional 1,868 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of analyst reports. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Robert W. Baird cut their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna lowered their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup reduced their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average price target of $190.28.

QUALCOMM Stock Performance

Shares of QCOM traded down $2.41 during mid-day trading on Tuesday, reaching $154.46. The company's stock had a trading volume of 7,127,232 shares, compared to its average volume of 8,735,528. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The business has a 50-day simple moving average of $146.50 and a two-hundred day simple moving average of $155.12. The stock has a market cap of $169.60 billion, a P/E ratio of 16.50, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, equities research analysts anticipate 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 will be paid on Thursday, June 26th. Investors 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 yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This represents 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 firm'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 transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.