QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Davis Investment Partners LLC

Davis Investment Partners LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 248.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,347 shares of the wireless technology company's stock after purchasing an additional 3,812 shares during the quarter. Davis Investment Partners LLC's holdings in QUALCOMM were worth $821,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the fourth quarter worth approximately $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $3.98 during mid-day trading on Friday, reaching $154.72. The stock had a trading volume of 8,444,486 shares, compared to its average volume of 8,732,955. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a 50 day moving average price of $145.85 and a two-hundred day moving average price of $155.15. The stock has a market capitalization of $169.88 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) 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 39.51% and a net margin of 25.94%. The business's revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 earnings per share. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target 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. 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 report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $189.88.

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.