Davidson Investment Advisors Buys 64,028 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Davidson Investment Advisors boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2,246.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,878 shares of the wireless technology company's stock after buying an additional 64,028 shares during the quarter. Davidson Investment Advisors' holdings in QUALCOMM were worth $10,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter worth about $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, 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. 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 company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $188.00.

QUALCOMM Trading Down 2.5%

Shares of NASDAQ:QCOM traded down $4.12 during trading on Monday, hitting $158.09. 7,182,556 shares of the company's stock were exchanged, compared to its average volume of 8,541,430. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The firm has a 50-day moving average price of $151.32 and a two-hundred day moving average price of $154.97. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The firm has a market cap of $173.58 billion, a P/E ratio of 16.10, a PEG ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share 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 for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The business's revenue was up 17.0% on a year-over-year basis. Equities analysts predict 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 given a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the company'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 transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,747 shares of company stock valued at $8,402,174. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.