Kingstone Capital Partners Texas LLC Invests $1.41 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingstone Capital Partners Texas LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,204 shares of the wireless technology company's stock, valued at approximately $1,414,000. QUALCOMM makes up 1.1% of Kingstone Capital Partners Texas LLC's portfolio, making the stock its 26th largest position.

Several other large investors have also recently modified their holdings of QCOM. 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 in the last quarter. Clark Capital Management Group Inc. increased its position in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares during the period. PDS Planning Inc lifted its position in QUALCOMM by 1.6% during 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 in the last quarter. Finally, CFS Investment Advisory Services LLC grew its stake in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after buying an additional 65 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 2.2%

QUALCOMM stock traded up $3.25 during midday trading on Tuesday, hitting $148.63. The stock had a trading volume of 9,775,711 shares, compared to its average volume of 8,853,042. The business has a fifty day moving average price of $145.20 and a 200 day moving average price of $155.99. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock has a market cap of $163.20 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results 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. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the business earned $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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 is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

A number of equities analysts have recently commented on QCOM shares. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $192.08.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's 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 completion of the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,568 shares of company stock valued at $1,818,305. Company insiders own 0.08% of the company's stock.

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.