Integrated Investment Consultants LLC Purchases 2,684 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Integrated Investment Consultants LLC increased its position in QUALCOMM by 182.0% in the first quarter, owning a total of 4,159 shares valued at approximately $639,000 following the acquisition of 2,684 shares.
• QUALCOMM's CFO, Akash J. Palkhiwala, sold 3,333 shares at $161.28 each, leading to a 6.70% decrease in his ownership.
• Research firms have different target prices for QUALCOMM, with UBS Group raising its target from $145.00 to $165.00, while Wells Fargo & Company decreased its target to $140.00.

Integrated Investment Consultants LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 182.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,159 shares of the wireless technology company's stock after acquiring an additional 2,684 shares during the quarter. Integrated Investment Consultants LLC's holdings in QUALCOMM were worth $639,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in QUALCOMM by 0.5% in the first quarter. TD Asset Management Inc now owns 2,094,454 shares of the wireless technology company's stock valued at $321,729,000 after acquiring an additional 10,072 shares during the last quarter. HB Wealth Management LLC increased its stake in QUALCOMM by 37.4% in the first quarter. HB Wealth Management LLC now owns 43,181 shares of the wireless technology company's stock valued at $6,633,000 after acquiring an additional 11,755 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of QUALCOMM by 10.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,027 shares of the wireless technology company's stock worth $618,000 after buying an additional 366 shares during the last quarter. Spectrum Financial Alliance Ltd LLC grew its stake in shares of QUALCOMM by 5.3% during the first quarter. Spectrum Financial Alliance Ltd LLC now owns 275,028 shares of the wireless technology company's stock worth $42,247,000 after buying an additional 13,911 shares during the last quarter. Finally, Sather Financial Group Inc grew its stake in shares of QUALCOMM by 1.4% during the first quarter. Sather Financial Group Inc now owns 350,281 shares of the wireless technology company's stock worth $53,807,000 after buying an additional 4,677 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated 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. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 over the last quarter. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. UBS Group boosted their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Wells Fargo & Company decreased 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. Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $184.86.

QUALCOMM Price Performance

QCOM stock opened at $158.40 on Friday. The firm has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.05 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64. The company's fifty day simple moving average is $154.60 and its 200 day simple moving average is $155.03.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its 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 analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.25%. 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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