HB Wealth Management LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• HB Wealth Management LLC increased its shares in QUALCOMM by 37.4% in the first quarter, bringing its total holdings to 43,181 shares valued at approximately $6.63 million.
• Insider transactions include a significant sale by a major shareholder and the CFO, with a total of 424,099 shares worth $8.31 million sold in the last ninety days.
• QUALCOMM's recent earnings report showed a 17% increase in revenue year-over-year, with earnings per share of $2.85, exceeding analysts' expectations.

HB Wealth Management LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 37.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,181 shares of the wireless technology company's stock after buying an additional 11,755 shares during the period. HB Wealth Management LLC's holdings in QUALCOMM were worth $6,633,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Northern Trust Corp raised its position in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the last quarter. Franklin Resources Inc. raised its position in QUALCOMM by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after buying an additional 709,644 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of QUALCOMM by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company's stock valued at $692,747,000 after purchasing an additional 138,257 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on QCOM. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, UBS Group upped their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $183.95.

Insider Buying and Selling at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the firm's 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 completion of the transaction, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

QCOM traded down $1.67 during trading on Wednesday, hitting $160.41. 3,389,794 shares of the company traded hands, compared to its average volume of 8,321,359. The company has a market cap of $176.13 billion, a PE ratio of 16.36, a P/E/G ratio of 2.07 and a beta of 1.26. The stock's 50-day simple moving average is $154.91 and its two-hundred day simple moving average is $155.05. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. 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 (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 4th. 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.