Ritholtz Wealth Management Buys 1,769 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ritholtz Wealth Management increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,507 shares of the wireless technology company's stock after buying an additional 1,769 shares during the quarter. Ritholtz Wealth Management's holdings in QUALCOMM were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi lifted its stake in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $527,053,000. GAMMA Investing LLC increased its position in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note 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 research report on Wednesday, April 9th. Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $190.28.

QUALCOMM Stock Down 1.5%

NASDAQ:QCOM traded down $2.41 on Tuesday, reaching $154.46. 7,139,946 shares of the stock traded hands, compared to its average volume of 8,722,086. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company's fifty day simple moving average is $146.50 and its 200 day simple moving average is $155.12. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market capitalization of $169.60 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.75 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is presently 36.25%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 sold 423,464 shares of company stock valued at $8,135,164 in the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM 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.