KPP Advisory Services LLC Purchases 3,217 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

KPP Advisory Services LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 234.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,592 shares of the wireless technology company's stock after purchasing an additional 3,217 shares during the quarter. KPP Advisory Services LLC's holdings in QUALCOMM were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter worth $26,000. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter worth $30,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $158.19 on Friday. The stock has a market capitalization of $173.69 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $149.00 and a two-hundred day moving average price of $154.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations 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 previous year, the business posted $2.44 EPS. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Evercore ISI decreased their price target 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, Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus target price of $186.96.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by insiders.

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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