CWC Advisors LLC. Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

CWC Advisors LLC. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,558 shares of the wireless technology company's stock after purchasing an additional 3,384 shares during the period. QUALCOMM comprises approximately 1.0% of CWC Advisors LLC.'s holdings, making the stock its 28th largest holding. CWC Advisors LLC.'s holdings in QUALCOMM were worth $1,775,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the 4th quarter valued at approximately $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.54 on Friday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The firm has a market cap of $174.08 billion, a P/E ratio of 16.14, a PEG ratio of 2.04 and a beta of 1.26. The company has a 50 day moving average of $149.44 and a 200 day moving average of $154.84. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for 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 revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company cut their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Evercore ISI cut their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $186.96.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company'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 disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock worth $8,135,164 in the last ninety days. Insiders own 0.08% of the company's stock.

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.

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