Klein Pavlis & Peasley Financial Inc. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in QUALCOMM by 51.5% during the first quarter, owning a total of 17,946 shares worth approximately $2.75 million.
• QUALCOMM reported a quarterly earnings per share (EPS) of $2.77, surpassing analysts' estimates, and achieved revenue of $10.37 billion, up 10.4% compared to the previous year.
• The company declared a quarterly dividend of $0.89 per share, with a dividend yield of 2.4%, set to be paid on September 25th to stockholders of record.

Klein Pavlis & Peasley Financial Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 51.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,946 shares of the wireless technology company's stock after buying an additional 6,102 shares during the period. QUALCOMM comprises about 2.0% of Klein Pavlis & Peasley Financial Inc.'s investment portfolio, making the stock its 17th biggest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in QUALCOMM were worth $2,747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in QUALCOMM in the 1st quarter worth $27,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares in the last quarter. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,324,591 in the last quarter. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $148.19 on Friday. The firm's 50-day moving average price is $155.11 and its 200-day moving average price is $154.93. The company has a quick ratio of 2.08, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The company has a market cap of $162.71 billion, a PE ratio of 14.29, a PEG ratio of 1.88 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 EPS. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is 34.33%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. UBS Group increased their price target 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. Finally, Piper Sandler decreased their price target on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $182.48.

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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