CJM Wealth Advisers Ltd. Acquires Shares of 10,032 QUALCOMM Incorporated (NASDAQ:QCOM)

CJM Wealth Advisers Ltd. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,032 shares of the wireless technology company's stock, valued at approximately $1,541,000. QUALCOMM comprises about 0.5% of CJM Wealth Advisers Ltd.'s portfolio, making the stock its 20th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. Portside Wealth Group LLC grew its position in shares of QUALCOMM by 15.4% in the 1st quarter. Portside Wealth Group LLC now owns 19,506 shares of the wireless technology company's stock worth $2,996,000 after acquiring an additional 2,610 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in QUALCOMM by 4.7% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,796 shares of the wireless technology company's stock worth $583,000 after purchasing an additional 170 shares during the last quarter. NewSquare Capital LLC boosted its holdings in QUALCOMM by 267.1% in the first quarter. NewSquare Capital LLC now owns 514 shares of the wireless technology company's stock worth $79,000 after purchasing an additional 374 shares during the period. First Citizens Bank & Trust Co. increased its stake in QUALCOMM by 234.3% during the first quarter. First Citizens Bank & Trust Co. now owns 19,522 shares of the wireless technology company's stock valued at $2,999,000 after purchasing an additional 13,682 shares during the last quarter. Finally, CGC Financial Services LLC increased its stake in QUALCOMM by 346.6% during the first quarter. CGC Financial Services LLC now owns 594 shares of the wireless technology company's stock valued at $91,000 after purchasing an additional 461 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM 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 transaction, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,064 shares of company stock valued at $8,381,948 over the last three months. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Citigroup dropped their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $6.17 during mid-day trading on Monday, reaching $155.41. 10,574,657 shares of the company traded hands, compared to its average volume of 8,741,736. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $170.64 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The stock has a fifty day simple moving average of $143.61 and a 200-day simple moving average of $155.12.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company posted $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.29%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

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.