Everhart Financial Group Inc. Buys 1,868 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Everhart Financial Group Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 67.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,646 shares of the wireless technology company's stock after purchasing an additional 1,868 shares during the quarter. Everhart Financial Group Inc.'s holdings in QUALCOMM were worth $714,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the first quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $29,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. TD Cowen dropped their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Bank of America reduced their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday. Benchmark lowered their price objective 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. Finally, Evercore ISI cut their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average target price of $190.28.

Insider Activity

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 1.5%

Shares of QCOM stock traded down $2.41 during trading hours on Tuesday, hitting $154.46. 7,139,946 shares of the company's stock traded hands, compared to its average volume of 8,722,099. The stock has a market cap of $169.60 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The stock's 50 day simple moving average is $146.71 and its 200 day simple moving average is $155.12. 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 12 month low of $120.80 and a 12 month high of $230.63.

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. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company earned $2.44 EPS. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

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.