Kingswood Wealth Advisors LLC Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingswood Wealth Advisors LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 111.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,086 shares of the wireless technology company's stock after purchasing an additional 30,619 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in QUALCOMM were worth $8,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC increased its position in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 1.5%

NASDAQ QCOM opened at $154.46 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The company has a market capitalization of $169.60 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.75 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The stock has a 50 day moving average price of $146.71 and a 200-day moving average price of $155.12.

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 analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. 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 yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 over the last three months. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $190.28.

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.

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