Cornerstone Wealth Group LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,115 shares of the wireless technology company's stock after acquiring an additional 4,327 shares during the quarter. Cornerstone Wealth Group LLC's holdings in QUALCOMM were worth $5,548,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Eagle Strategies LLC boosted its stake in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. boosted its stake in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares during the period. PDS Planning Inc boosted its stake in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares during the period. Cassady Schiller Wealth Management LLC boosted its stake in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after purchasing an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. boosted its stake in QUALCOMM by 2.9% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock valued at $371,000 after purchasing an additional 67 shares during the period. 74.35% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company's stock.
QUALCOMM Trading Up 0.2%
Shares of QUALCOMM stock traded up $0.35 on Friday, hitting $158.54. 22,085,291 shares of the company's stock traded hands, compared to its average volume of 8,549,597. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a fifty day moving average of $149.44 and a two-hundred day moving average of $154.84. The company has a market capitalization of $174.08 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its 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 company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.
QUALCOMM Increases Dividend
The company also recently declared 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 annualized dividend and a yield of 2.25%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is presently 36.25%.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Citigroup reduced their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. 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, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $186.96.
View Our Latest Report on QCOM
QUALCOMM Company Profile
(
Free Report)
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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