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QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Ritholtz Wealth Management

QUALCOMM logo with Computer and Technology background

Ritholtz Wealth Management raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,507 shares of the wireless technology company's stock after purchasing an additional 1,769 shares during the period. Ritholtz Wealth Management's holdings in QUALCOMM were worth $3,150,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Eagle Strategies LLC grew its holdings in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its position in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares during the period. TBH Global Asset Management LLC raised its stake in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares during the period. Finally, Cassady Schiller Wealth Management LLC grew its stake in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $0.83 during mid-day trading on Thursday, hitting $153.63. The stock had a trading volume of 6,705,737 shares, compared to its average volume of 8,660,784. The firm has a market cap of $168.69 billion, a PE ratio of 15.64, a PEG ratio of 1.73 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 company has a 50 day moving average of $146.91 and a two-hundred day moving average of $155.11. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $225.90.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating 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 business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company's revenue was up 17.0% on a year-over-year basis. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Citigroup decreased their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Bank of America dropped their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $190.28.

Check Out Our Latest Stock Analysis on QCOM

About QUALCOMM

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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