QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lifted by Compass Capital Management Inc.

Compass Capital Management Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,993 shares of the wireless technology company's stock after purchasing an additional 5,998 shares during the period. QUALCOMM comprises 3.6% of Compass Capital Management Inc.'s investment portfolio, making the stock its 21st biggest position. Compass Capital Management Inc.'s holdings in QUALCOMM were worth $55,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi boosted its stake in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM during the fourth quarter worth about $527,053,000. GAMMA Investing LLC increased its position in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock traded down $0.83 during mid-day trading on Wednesday, reaching $153.63. The company's stock had a trading volume of 6,684,232 shares, compared to its average volume of 8,714,025. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The business has a 50 day moving average price of $146.71 and a 200-day moving average price of $155.12. The firm has a market cap of $168.69 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.75 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated 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 directly owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company dropped their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $190.28.

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.