Oppenheimer & Co. Inc. Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Oppenheimer & Co. Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,722 shares of the wireless technology company's stock after purchasing an additional 16,751 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in QUALCOMM were worth $19,773,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the 4th quarter valued at about $26,000. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. Robert W. Baird lowered their price objective 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. Citigroup decreased 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. Loop Capital decreased their price target 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. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One investment 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 MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus price target of $186.96.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the company'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 now owns 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares of the company's stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Down 1.5%

QCOM opened at $151.32 on Monday. The firm has a market capitalization of $166.15 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.95 and a beta of 1.26. The firm's 50 day moving average is $147.54 and its 200-day moving average is $154.87. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.35%. QUALCOMM's payout ratio is 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.

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