QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by MV Capital Management Inc.

MV Capital Management Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,106 shares of the wireless technology company's stock after acquiring an additional 3,293 shares during the period. MV Capital Management Inc.'s holdings in QUALCOMM were worth $3,396,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on QCOM shares. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company cut their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $189.88.

Insider Transactions at QUALCOMM

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

QUALCOMM Trading Down 2.5%

Shares of NASDAQ QCOM traded down $3.98 during midday trading on Friday, reaching $154.72. 8,444,486 shares of the stock were exchanged, compared to its average volume of 8,742,171. The stock has a market capitalization of $169.88 billion, a P/E ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a 50 day simple moving average of $145.85 and a 200 day simple moving average of $155.15. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

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 (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is currently 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.