Farther Finance Advisors LLC Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Farther Finance Advisors LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 122.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,860 shares of the wireless technology company's stock after buying an additional 23,021 shares during the period. Farther Finance Advisors LLC's holdings in QUALCOMM were worth $6,407,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Howard Bailey Securities LLC acquired a new position in QUALCOMM during the fourth quarter worth about $240,000. Teza Capital Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC purchased a new position in QUALCOMM in the 4th quarter valued at approximately $303,000. Amundi raised its holdings in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Finally, First Foundation Advisors boosted its position in QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after purchasing an additional 45,769 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. TD Cowen reduced 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. Finally, Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $189.88.

QUALCOMM Stock Performance

Shares of QCOM traded down $3.44 during mid-day trading on Friday, hitting $155.26. 2,191,778 shares of the company's stock were exchanged, compared to its average volume of 8,463,374. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The stock's 50-day simple moving average is $145.25 and its 200-day simple moving average is $155.17. The firm has a market cap of $170.48 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares of the company's stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the 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 now owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last ninety days. 0.08% of the stock is currently owned by 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.