Concurrent Investment Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Concurrent Investment Advisors LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,342 shares of the wireless technology company's stock after acquiring an additional 3,979 shares during the quarter. Concurrent Investment Advisors LLC's holdings in QUALCOMM were worth $7,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,016 shares of company stock worth $8,437,440 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 0.1%

QCOM stock opened at $162.11 on Friday. The stock has a market capitalization of $177.99 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The company has a fifty day moving average of $151.32 and a 200-day moving average of $154.93. 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 Incorporated has a one year low of $120.80 and a one year high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 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 during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Analyst Ratings Changes

A number of research firms recently commented on QCOM. Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Finally, Loop Capital dropped their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $186.96.

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.

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