Crossmark Global Holdings Inc. Buys 6,607 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Crossmark Global Holdings Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 382,225 shares of the wireless technology company's stock after acquiring an additional 6,607 shares during the quarter. QUALCOMM comprises approximately 1.0% of Crossmark Global Holdings Inc.'s holdings, making the stock its 10th largest position. Crossmark Global Holdings Inc.'s holdings in QUALCOMM were worth $58,714,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Banque Transatlantique SA acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QCOM. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Evercore ISI dropped 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. Bank of America dropped 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. Finally, Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $188.00.

QUALCOMM Price Performance

NASDAQ QCOM traded up $2.47 on Tuesday, hitting $160.56. 2,187,650 shares of the company were exchanged, compared to its average volume of 8,516,888. The firm has a 50 day moving average of $151.53 and a two-hundred day moving average of $155.01. The company has a market cap of $176.29 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.09 and a beta of 1.26. 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 1-year low of $120.80 and a 1-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 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current 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 dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insiders Place Their Bets

In related 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 value of $6,600,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 424,747 shares of company stock valued at $8,402,174. 0.08% of the stock is currently owned by insiders.

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.