Mattern Wealth Management LLC Acquires New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Mattern Wealth Management LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,744 shares of the wireless technology company's stock, valued at approximately $268,000.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Field & Main Bank increased its holdings in shares of QUALCOMM by 11.4% during the 1st quarter. Field & Main Bank now owns 1,420 shares of the wireless technology company's stock worth $218,000 after buying an additional 145 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in QUALCOMM by 23.2% in the first quarter. Archford Capital Strategies LLC now owns 9,712 shares of the wireless technology company's stock valued at $1,492,000 after acquiring an additional 1,830 shares during the last quarter. Strategic Investment Advisors MI grew its position in QUALCOMM by 1.3% during the first quarter. Strategic Investment Advisors MI now owns 6,951 shares of the wireless technology company's stock valued at $1,068,000 after acquiring an additional 91 shares during the period. Econ Financial Services Corp acquired a new stake in QUALCOMM during the first quarter worth about $2,032,000. Finally, Cornerstone Wealth Group LLC raised its holdings in shares of QUALCOMM by 13.6% in the 1st quarter. Cornerstone Wealth Group LLC now owns 36,115 shares of the wireless technology company's stock worth $5,548,000 after purchasing an additional 4,327 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on QCOM shares. 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. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird dropped their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, Bank of America decreased their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $186.96.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was 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. In the last ninety days, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Up 1.7%

QCOM opened at $155.71 on Wednesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market capitalization of $170.97 billion, a PE ratio of 15.86, a P/E/G ratio of 1.98 and a beta of 1.26. The firm's fifty day moving average price is $148.16 and its 200 day moving average price is $154.83.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The company's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced 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 a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.29%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

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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