QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Consolidated Planning Corp

Consolidated Planning Corp increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,991 shares of the wireless technology company's stock after acquiring an additional 3,804 shares during the period. Consolidated Planning Corp's holdings in QUALCOMM were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter worth about $2,721,882,000. Amundi grew its holdings in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the fourth quarter worth about $527,053,000. GAMMA Investing LLC grew its holdings in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the period. Finally, Northern Trust Corp grew its holdings in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $151.32 on Monday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The company has a market cap of $166.15 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.95 and a beta of 1.26. 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 business's 50 day moving average price is $147.54 and its 200 day moving average price is $154.87.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders 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 yield of 2.35%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Bank of America dropped their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Evercore ISI dropped their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Susquehanna dropped their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $186.96.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares of the company's stock, valued at $7,661,403.70. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last quarter. Insiders own 0.08% of the company's stock.

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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