QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,342 shares of the wireless technology company's stock after buying 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.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC grew 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 period. 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 during the period. Proficio Capital Partners LLC grew its position in shares of QUALCOMM by 50.1% in the fourth 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 during the last quarter. E Fund Management Co. Ltd. grew its position in shares of QUALCOMM by 41.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 45,546 shares of the wireless technology company's stock valued at $6,997,000 after purchasing an additional 13,303 shares during the last quarter. Finally, Chatham Capital Group Inc. grew its position in shares of QUALCOMM by 1.9% in the fourth quarter. Chatham Capital Group Inc. now owns 27,231 shares of the wireless technology company's stock valued at $4,183,000 after purchasing an additional 506 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.9%

Shares of QCOM stock traded up $1.36 during mid-day trading on Tuesday, reaching $159.45. The company's stock had a trading volume of 6,871,545 shares, compared to its average volume of 8,534,786. The company's 50 day simple moving average is $151.53 and its 200-day simple moving average is $155.01. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $175.08 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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 business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm posted $2.44 EPS. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.23%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QCOM. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Evercore ISI lowered their price target 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. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup increased their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average price target of $188.00.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,747 shares of company stock worth $8,402,174 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

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.