Petros Family Wealth LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Petros Family Wealth LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 62.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,201 shares of the wireless technology company's stock after purchasing an additional 2,006 shares during the period. Petros Family Wealth LLC's holdings in QUALCOMM were worth $799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. LaFleur & Godfrey LLC raised its position in QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC lifted its stake in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after acquiring an additional 9,343 shares during the period. Revolve Wealth Partners LLC boosted its holdings in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Forvis Mazars Wealth Advisors LLC increased its position in QUALCOMM by 6.9% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 4,120 shares of the wireless technology company's stock valued at $633,000 after purchasing an additional 265 shares during the period. Finally, MONECO Advisors LLC increased its position in QUALCOMM by 11.5% during the 4th quarter. MONECO Advisors LLC now owns 4,328 shares of the wireless technology company's stock valued at $665,000 after purchasing an additional 445 shares during the period. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, 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 transaction of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the sale, the chief financial officer now 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 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Benchmark dropped their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $186.96.

QUALCOMM Trading Up 1.7%

QCOM stock traded up $2.57 during midday trading on Tuesday, reaching $155.71. The company's stock had a trading volume of 7,681,717 shares, compared to its average volume of 8,580,990. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The firm has a market capitalization of $170.97 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.95 and a beta of 1.26. The stock has a fifty day simple moving average of $147.82 and a two-hundred day simple moving average of $154.83. 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 (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 (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.29%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is currently 36.25%.

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.