QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 51.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,012 shares of the wireless technology company's stock after acquiring an additional 10,820 shares during the period. Eagle Rock Investment Company LLC's holdings in QUALCOMM were worth $4,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other 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 sale, the chief financial officer now directly owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 425,064 shares of company stock worth $8,381,948. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on QCOM shares. Wells Fargo & Company decreased their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Susquehanna dropped their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Trading Up 1.1%

Shares of NASDAQ QCOM opened at $149.24 on Friday. The stock has a market cap of $163.87 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company's fifty day moving average is $143.61 and its 200-day moving average is $155.12. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating 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 net margin of 25.94% and a return on equity of 39.51%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's payout ratio is presently 36.25%.

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.

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