CCM Investment Advisers LLC Buys 11,407 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CCM Investment Advisers LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,632 shares of the wireless technology company's stock after purchasing an additional 11,407 shares during the quarter. CCM Investment Advisers LLC's holdings in QUALCOMM were worth $13,308,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Eagle Strategies LLC raised its position in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in shares of QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc raised its holdings in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its position in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 2.5%

NASDAQ QCOM traded down $3.98 during trading hours on Friday, reaching $154.72. 8,444,486 shares of the company's stock were exchanged, compared to its average volume of 8,732,955. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $169.88 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company's 50-day moving average is $145.85 and its two-hundred day moving average is $155.15. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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. Insiders have sold 423,464 shares of company stock valued at $8,135,164 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QCOM shares. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Loop Capital decreased their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $189.88.

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.