Planning Directions Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Planning Directions Inc. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,611 shares of the wireless technology company's stock, valued at approximately $4,702,000. QUALCOMM makes up about 2.0% of Planning Directions Inc.'s investment portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the first quarter worth $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the 4th quarter worth about $30,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Citigroup increased their price target on QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $188.00.

QUALCOMM Stock Down 2.5%

QCOM stock traded down $4.12 during mid-day trading on Monday, reaching $158.09. 7,182,556 shares of the company traded hands, compared to its average volume of 8,541,425. The stock has a market cap of $173.58 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The firm's 50 day moving average price is $151.32 and its 200 day moving average price is $154.97. 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 announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 earnings per share. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were 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. Insiders sold a total of 424,747 shares of company stock worth $8,402,174 over the last quarter. Insiders own 0.08% of the company's stock.

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.