Fiduciary Family Office LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Fiduciary Family Office LLC acquired 2,170 shares of QUALCOMM, valued at approximately $333,000, in Q1 2023.
• QUALCOMM announced a quarterly dividend of $0.89 per share, representing an annualized dividend yield of 2.4%, to be paid on September 25th.
• Analysts have varied ratings for QUALCOMM, with a consensus "Hold" rating and a target price of $181.10 after recent adjustments from several financial institutions.

Fiduciary Family Office LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,170 shares of the wireless technology company's stock, valued at approximately $333,000.

A number of other hedge funds have also modified their holdings of QCOM. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of 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 worth $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Evercore ISI decreased their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average price target of $181.10.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $1.66 during mid-day trading on Friday, reaching $147.56. 5,026,408 shares of the stock were exchanged, compared to its average volume of 8,698,109. The company has a 50 day simple moving average of $155.07 and a 200-day simple moving average of $154.06. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $159.22 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.15 and a beta of 1.23. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $2.33 EPS. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the transaction, the chief financial officer directly owned 43,207 shares in the company, valued at approximately $6,398,956.70. This represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 over the last ninety days. Insiders own 0.08% of the company's stock.

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.