Golden State Equity Partners Purchases 2,960 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Golden State Equity Partners increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,992 shares of the wireless technology company's stock after acquiring an additional 2,960 shares during the quarter. Golden State Equity Partners' holdings in QUALCOMM were worth $2,457,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Eagle Strategies LLC lifted its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares during the last quarter. PDS Planning Inc lifted its position in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the last quarter. Cassady Schiller Wealth Management LLC lifted its position in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after buying an additional 65 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. lifted its holdings in shares of QUALCOMM by 2.9% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock worth $371,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Citigroup decreased their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $186.96.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the transaction, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.7%

QCOM stock opened at $155.71 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company's 50 day moving average is $148.16 and its two-hundred day moving average is $154.83. The stock has a market cap of $170.97 billion, a P/E ratio of 15.86, a PEG ratio of 1.98 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 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the business earned $2.44 EPS. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

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.

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