QUALCOMM Incorporated (NASDAQ:QCOM) Stake Increased by Concord Wealth Partners

Concord Wealth Partners increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 440.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,278 shares of the wireless technology company's stock after buying an additional 4,302 shares during the quarter. Concord Wealth Partners' holdings in QUALCOMM were worth $811,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC grew its position in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of QUALCOMM by 50.1% in the 4th quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock valued at $645,000 after purchasing an additional 1,401 shares in the last quarter. Brooklyn FI LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $389,000. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of QUALCOMM by 1.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 494,523 shares of the wireless technology company's stock valued at $75,969,000 after purchasing an additional 9,023 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $2.19 on Friday, hitting $154.80. 7,429,971 shares of the company's stock were exchanged, compared to its average volume of 8,482,916. The company has a 50-day simple moving average of $153.95 and a 200-day simple moving average of $154.97. The stock has a market capitalization of $169.97 billion, a PE ratio of 15.76, a PEG ratio of 1.97 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $196.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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 net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the firm earned $2.44 earnings per share. The company's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's payout ratio is presently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $186.00.

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.