Foster Victor Wealth Advisors LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Foster Victor Wealth Advisors LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 145,238 shares of the wireless technology company's stock after buying an additional 21,613 shares during the quarter. QUALCOMM accounts for approximately 1.7% of Foster Victor Wealth Advisors LLC's holdings, making the stock its 7th biggest position. Foster Victor Wealth Advisors LLC's holdings in QUALCOMM were worth $22,310,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QCOM. Eagle Strategies LLC raised its holdings in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC raised its holdings in QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc raised its holdings in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its holdings in shares of QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $1.31 during trading hours on Monday, reaching $156.03. 2,076,981 shares of the stock were exchanged, compared to its average volume of 8,716,810. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $145.85 and a 200-day simple moving average of $155.14. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The stock has a market capitalization of $171.32 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.01 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 (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.28%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $189.88.

Insider Buying and Selling

In other QUALCOMM 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 sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. 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.