Mutual Advisors LLC Boosts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Mutual Advisors LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,760 shares of the wireless technology company's stock after buying an additional 2,720 shares during the quarter. Mutual Advisors LLC's holdings in QUALCOMM were worth $5,015,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of QCOM. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter worth $26,000. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $29,000. Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth $30,000. Finally, Wood Tarver Financial Group LLC bought a new stake in QUALCOMM during the 4th quarter valued at about $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm'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 owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 425,016 shares of company stock worth $8,437,440. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of several recent analyst reports. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird lowered their target price 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. Finally, Evercore ISI dropped their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $0.22 during midday trading on Friday, reaching $162.11. 4,280,773 shares of the company were exchanged, compared to its average volume of 8,538,196. The business's fifty day moving average is $151.05 and its two-hundred day moving average is $154.90. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The stock has a market cap of $177.99 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the firm posted $2.44 earnings per share. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were given a dividend of $0.89 per share. The ex-dividend date was 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 2.20%. QUALCOMM's dividend payout ratio is 36.25%.

QUALCOMM 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.