Argonautica Private Wealth Management Inc. Buys 5,690 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Argonautica Private Wealth Management Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 422.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,036 shares of the wireless technology company's stock after buying an additional 5,690 shares during the period. Argonautica Private Wealth Management Inc.'s holdings in QUALCOMM were worth $1,081,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at about $27,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $30,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 0.3%

Shares of QCOM traded down $0.44 on Friday, hitting $158.40. 4,805,669 shares of the stock traded hands, compared to its average volume of 7,220,092. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.64. The company has a market capitalization of $173.92 billion, a PE ratio of 16.13, a P/E/G ratio of 2.05 and a beta of 1.26. The business has a 50 day simple moving average of $154.60 and a 200 day simple moving average of $155.03.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm posted $2.44 earnings per share. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares of the company's stock, valued at $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 available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's 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. Over the last quarter, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Susquehanna cut their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $184.86.

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.