Byrne Financial Freedom LLC Acquires 2,432 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Byrne Financial Freedom LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 49.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,387 shares of the wireless technology company's stock after buying an additional 2,432 shares during the period. Byrne Financial Freedom LLC's holdings in QUALCOMM were worth $1,135,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in QCOM. Banque Transatlantique SA acquired a new stake in QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in QUALCOMM by 70.0% in 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 buying an additional 70 shares in the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at about $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at about $30,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $1.36 during trading on Tuesday, reaching $159.45. The company's stock had a trading volume of 6,874,128 shares, compared to its average volume of 8,541,273. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm has a 50 day moving average of $151.53 and a 200-day moving average of $155.01. The firm has a market cap of $175.08 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. Research analysts expect 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. Investors of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.23%. QUALCOMM's dividend payout ratio is 36.25%.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 424,747 shares of company stock valued at $8,402,174. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on QCOM. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $188.00.

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.