1,788 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,788 shares of the wireless technology company's stock, valued at approximately $275,000.

Other hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

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

Analyst Ratings Changes

Several brokerages have recently issued reports on QCOM. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $1.30 during trading hours on Monday, reaching $156.02. The company's stock had a trading volume of 2,076,981 shares, compared to its average volume of 8,716,643. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company's 50 day simple moving average is $145.85 and its 200 day simple moving average is $155.14. 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 stock has a market cap of $171.31 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The business's revenue was up 17.0% compared to the same quarter last year. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.28%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is presently 36.25%.

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.