Larson Financial Group LLC Has $1.28 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Larson Financial Group LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 144.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,352 shares of the wireless technology company's stock after purchasing an additional 4,938 shares during the quarter. Larson Financial Group LLC's holdings in QUALCOMM were worth $1,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of QCOM. Norges Bank bought a new stake in shares of QUALCOMM in the fourth quarter worth $2,721,882,000. GAMMA Investing LLC grew its stake 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 buying an additional 3,247,068 shares in the last quarter. Northern Trust Corp grew its stake 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 buying an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of QUALCOMM in the fourth quarter worth about $204,085,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company'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 value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $2.01 during mid-day trading on Friday, reaching $154.62. 3,130,346 shares of the stock were exchanged, compared to its average volume of 8,473,003. The company has a 50 day simple moving average of $153.76 and a 200-day simple moving average of $154.96. The stock has a market capitalization of $169.77 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.99 and a beta of 1.26. 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 1 year low of $120.80 and a 1 year high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $2.44 EPS. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered 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. Evercore ISI cut their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Susquehanna cut their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $186.00.

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.