Oppenheimer Asset Management Inc. Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Oppenheimer Asset Management Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,731 shares of the wireless technology company's stock after purchasing an additional 23,171 shares during the period. Oppenheimer Asset Management Inc.'s holdings in QUALCOMM were worth $15,781,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Eagle Strategies LLC increased its holdings in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. boosted its position in QUALCOMM by 3.6% during the 4th 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. PDS Planning Inc increased its position in shares of 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 period. Cassady Schiller Wealth Management LLC boosted its holdings in shares of QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after purchasing an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. grew its position in shares of QUALCOMM by 2.9% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock worth $371,000 after buying an additional 67 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on QCOM. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $186.96.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares of the company's stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business'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 transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 1.7%

Shares of NASDAQ QCOM traded up $2.57 during trading hours on Tuesday, hitting $155.71. 7,252,048 shares of the company traded hands, compared to its average volume of 8,579,309. The stock has a market capitalization of $170.97 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.95 and a beta of 1.26. The company's 50 day moving average price is $147.82 and its 200 day moving average price is $154.83. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. 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 issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate 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 net margin of 26.11% and a return on equity of 40.11%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

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.