QUALCOMM Incorporated (NASDAQ:QCOM) is O Keefe Stevens Advisory Inc.'s 2nd Largest Position

O Keefe Stevens Advisory Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,423 shares of the wireless technology company's stock after acquiring an additional 2,828 shares during the quarter. QUALCOMM accounts for about 7.0% of O Keefe Stevens Advisory Inc.'s portfolio, making the stock its 2nd biggest holding. O Keefe Stevens Advisory Inc.'s holdings in QUALCOMM were worth $21,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new position in QUALCOMM in the fourth quarter worth approximately $207,000. LaFleur & Godfrey LLC grew its holdings in QUALCOMM by 10.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC grew its holdings in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in QUALCOMM during the fourth quarter valued at approximately $10,394,000. Finally, Revolve Wealth Partners LLC grew its holdings in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. Loop Capital lowered their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Evercore ISI decreased their price target on shares of 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 equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $189.88.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,064 shares of company stock worth $8,381,948 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

QCOM stock traded up $1.07 during midday trading on Thursday, hitting $149.23. The company's stock had a trading volume of 2,366,147 shares, compared to its average volume of 8,728,457. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock's 50-day moving average price is $143.81 and its 200 day moving average price is $155.34. The stock has a market cap of $163.85 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping 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 return on equity of 39.51% and a net margin of 25.94%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.39%. 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. 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.