Hennion & Walsh Asset Management Inc. Buys 2,901 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hennion & Walsh Asset Management Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,003 shares of the wireless technology company's stock after buying an additional 2,901 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in QUALCOMM were worth $5,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter worth about $29,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the 4th quarter valued at approximately $30,000. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 425,064 shares of company stock valued at $8,381,948. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Trading Up 1.1%

Shares of QCOM stock traded up $1.68 on Friday, hitting $149.24. 5,789,125 shares of the company's stock traded hands, compared to its average volume of 8,734,373. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company's fifty day simple moving average is $143.61 and its 200 day simple moving average is $155.12. The stock has a market capitalization of $163.87 billion, a price-to-earnings ratio of 15.94, 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 analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm earned $2.44 EPS. The company's revenue was up 17.0% on a year-over-year basis. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business 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 $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.39%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

About QUALCOMM

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.