GAMMA Investing LLC Purchases 5,555 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

GAMMA Investing LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,241 shares of the wireless technology company's stock after purchasing an additional 5,555 shares during the quarter. GAMMA Investing LLC's holdings in QUALCOMM were worth $3,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter valued at about $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter valued at about $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter worth about $30,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QCOM shares. Benchmark lowered their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Citigroup cut their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. One 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Stock Up 0.2%

Shares of QCOM opened at $158.54 on Friday. The business's fifty day moving average price is $149.44 and its two-hundred day moving average price is $154.84. The firm has a market capitalization of $174.08 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.04 and a beta of 1.26. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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 business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 earnings per share. On average, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This represents a 0.46% 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 worth $8,135,164 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM 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.

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