ORG Wealth Partners LLC Has $1.39 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

ORG Wealth Partners LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 119.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,102 shares of the wireless technology company's stock after purchasing an additional 4,954 shares during the period. ORG Wealth Partners LLC's holdings in QUALCOMM were worth $1,394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Eagle Strategies LLC boosted its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after buying an additional 59 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of 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 worth $264,000 after purchasing an additional 59 shares during the period. TBH Global Asset Management LLC lifted its stake in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc boosted its stake in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares during the period. Finally, Cassady Schiller Wealth Management LLC boosted its position 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 buying an additional 65 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.5%

Shares of NASDAQ:QCOM traded down $0.83 during trading on Thursday, reaching $153.63. 6,705,737 shares of the company traded hands, compared to its average volume of 8,660,784. The firm has a fifty day simple moving average of $146.91 and a 200 day simple moving average of $155.11. 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 1-year low of $120.80 and a 1-year high of $225.90. The firm has a market cap of $168.69 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is presently 36.25%.

Analyst Ratings Changes

Several research firms have commented on QCOM. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their price objective 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. Evercore ISI reduced their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company cut their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $190.28.

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.