NBC Securities Inc. Acquires 8,985 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

NBC Securities Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 99,833.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 8,994 shares of the wireless technology company's stock after buying an additional 8,985 shares during the period. NBC Securities Inc.'s holdings in QUALCOMM were worth $1,381,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Strategies LLC raised its holdings in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares during the period. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares during the last quarter. PDS Planning Inc boosted its stake in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after acquiring an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after acquiring an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Stock Up 0.1%

QCOM stock traded up $0.11 during trading hours on Wednesday, reaching $149.05. 7,135,760 shares of the stock were exchanged, compared to its average volume of 8,744,942. The firm's 50-day moving average is $143.88 and its 200-day moving average is $155.39. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market cap of $163.66 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the company earned $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed 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 represents a $3.56 dividend on an annualized basis and a dividend yield of 2.39%. 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. QUALCOMM's payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,064 shares of company stock valued at $8,381,948 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.