MOKAN Wealth Management Inc. Makes New $1.27 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

MOKAN Wealth Management Inc. 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 8,261 shares of the wireless technology company's stock, valued at approximately $1,269,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Solutions Wealth Management LLC grew its holdings in QUALCOMM by 1.8% in the first quarter. Independent Solutions Wealth Management LLC now owns 14,316 shares of the wireless technology company's stock valued at $2,187,000 after purchasing an additional 252 shares during the period. waypoint wealth counsel grew its holdings in shares of QUALCOMM by 23.5% during the 1st quarter. waypoint wealth counsel now owns 3,290 shares of the wireless technology company's stock worth $505,000 after purchasing an additional 627 shares during the period. Berkshire Money Management Inc. acquired a new position in QUALCOMM during the first quarter valued at approximately $228,000. Golden State Equity Partners boosted its position in QUALCOMM by 22.7% during the 1st quarter. Golden State Equity Partners now owns 15,992 shares of the wireless technology company's stock worth $2,457,000 after purchasing an additional 2,960 shares during the period. Finally, Mattern Wealth Management LLC purchased a new position in QUALCOMM in the 1st quarter worth approximately $268,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $2.26 during mid-day trading on Thursday, hitting $158.19. The company had a trading volume of 6,272,334 shares, compared to its average volume of 8,508,941. 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 firm has a market cap of $173.69 billion, a P/E ratio of 16.11, a PEG ratio of 2.01 and a beta of 1.26. The business's 50-day simple moving average is $148.57 and its 200-day simple moving average is $154.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $10.98 billion for 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QCOM. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Susquehanna decreased their target price on shares of 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 reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average target price of $186.96.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock valued at $8,135,164 over the last ninety days. 0.08% of the stock is 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.