QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,835 shares of the wireless technology company's stock after buying an additional 5,207 shares during the quarter. Amalgamated Bank's holdings in QUALCOMM were worth $36,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LaFleur & Godfrey LLC increased its stake in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after purchasing an additional 300 shares in the last quarter. Brighton Jones LLC increased its position in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after buying an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC increased its position in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth $1,974,000. Finally, Purkiss Capital Advisors LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $303,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Trading Up 0.2%

Shares of QCOM stock opened at $158.54 on Monday. 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 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 $149.44 and its two-hundred day moving average price is $154.78. The stock has a market cap of $174.08 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26.

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

QUALCOMM Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Citigroup reduced 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. Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One equities research 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's stock. According to MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $186.96.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is currently owned by company insiders.

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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