QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 38.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,500 shares of the wireless technology company's stock after purchasing an additional 3,190 shares during the period. Confluence Wealth Services Inc.'s holdings in QUALCOMM were worth $1,615,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QCOM. Eagle Strategies LLC grew its holdings in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in shares of QUALCOMM by 3.6% during the fourth 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. PDS Planning Inc grew its stake 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 worth $631,000 after purchasing an additional 64 shares during the last quarter. Cassady Schiller Wealth Management LLC increased its holdings in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after purchasing an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. raised its position in QUALCOMM by 2.9% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock worth $371,000 after purchasing an additional 67 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $158.54 on Friday. The stock's 50 day moving average is $149.44 and its 200-day moving average is $154.84. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month 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. The firm has a market capitalization of $174.08 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share 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 firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The business's revenue was up 17.0% on a year-over-year basis. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QCOM shares. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Wells Fargo & Company cut their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Finally, 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 report on Thursday, May 1st. 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $186.96.

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.

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