Pallas Capital Advisors LLC Purchases 12,176 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Pallas Capital Advisors LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 31.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,248 shares of the wireless technology company's stock after acquiring an additional 12,176 shares during the period. Pallas Capital Advisors LLC's holdings in QUALCOMM were worth $7,872,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter worth $240,000. Teza Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at $1,541,000. Purkiss Capital Advisors LLC bought a new stake in QUALCOMM in the 4th quarter valued at $303,000. Amundi lifted its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors boosted its holdings in shares of QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after purchasing an additional 45,769 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now owns 49,779 shares in the company, valued at $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna lowered their price objective 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. Finally, Citigroup dropped their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One equities research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $189.88.

QUALCOMM Trading Down 0.5%

Shares of QUALCOMM stock traded down $0.78 on Thursday, hitting $158.70. 5,678,457 shares of the company traded hands, compared to its average volume of 8,742,611. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market cap of $174.25 billion, a PE ratio of 16.96, a PEG ratio of 2.01 and a beta of 1.26. The stock's 50 day moving average price is $144.67 and its 200-day moving average price is $155.17. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. Equities 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 dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

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.