Fifth Third Wealth Advisors LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Fifth Third Wealth Advisors LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 38.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,404 shares of the wireless technology company's stock after purchasing an additional 6,456 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in QUALCOMM were worth $3,595,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $29,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the 4th quarter worth about $30,000. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Citigroup dropped their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $189.88.

QUALCOMM Stock Up 0.4%

QCOM traded up $0.67 during midday trading on Wednesday, reaching $149.61. 3,115,568 shares of the company were exchanged, compared to its average volume of 8,729,896. 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 company's fifty day moving average price is $143.88 and its 200 day moving average price is $155.39. The company has a market cap of $164.27 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. 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 released 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 company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.38%. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 425,064 shares of company stock valued at $8,381,948 over the last three months. Corporate insiders own 0.08% of the company's stock.

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.