Paradiem LLC Makes New $12.60 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Paradiem LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 82,046 shares of the wireless technology company's stock, valued at approximately $12,603,000. QUALCOMM comprises approximately 3.5% of Paradiem LLC's investment portfolio, making the stock its 6th biggest holding.

Several other institutional investors also recently modified their holdings of QCOM. Ellis Investment Partners LLC grew its position in QUALCOMM by 2.7% during the first quarter. Ellis Investment Partners LLC now owns 16,871 shares of the wireless technology company's stock valued at $2,592,000 after buying an additional 447 shares during the period. Childress Capital Advisors LLC boosted its stake in QUALCOMM by 7.1% in the first quarter. Childress Capital Advisors LLC now owns 2,998 shares of the wireless technology company's stock valued at $460,000 after acquiring an additional 200 shares during the last quarter. Shum Financial Group Inc. grew its position in shares of QUALCOMM by 3.3% during the 1st quarter. Shum Financial Group Inc. now owns 6,978 shares of the wireless technology company's stock valued at $1,072,000 after acquiring an additional 222 shares during the period. Masso Torrence Wealth Management Inc. increased its stake in shares of QUALCOMM by 3.3% during the 1st quarter. Masso Torrence Wealth Management Inc. now owns 6,452 shares of the wireless technology company's stock worth $991,000 after purchasing an additional 207 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its holdings in shares of QUALCOMM by 9.4% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 190,697 shares of the wireless technology company's stock worth $29,293,000 after purchasing an additional 16,443 shares during the period. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on QCOM shares. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Citigroup decreased their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $186.96.

Insider Activity

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the transaction, the chief financial officer now directly owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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 0.1%

Shares of QUALCOMM stock traded up $0.22 during trading on Wednesday, reaching $155.93. The company's stock had a trading volume of 5,277,103 shares, compared to its average volume of 8,524,083. 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 Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The firm's 50-day moving average is $148.16 and its two-hundred day moving average is $154.83. The company has a market cap of $171.21 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.28%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is presently 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.