RFG Advisory LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

RFG Advisory LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,724 shares of the wireless technology company's stock after buying an additional 5,171 shares during the quarter. RFG Advisory LLC's holdings in QUALCOMM were worth $4,259,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. HBW Advisory Services LLC increased its stake in shares of QUALCOMM by 45.2% in the 1st quarter. HBW Advisory Services LLC now owns 3,150 shares of the wireless technology company's stock valued at $484,000 after acquiring an additional 980 shares in the last quarter. Merit Financial Group LLC lifted its stake in QUALCOMM by 60.2% during the 1st quarter. Merit Financial Group LLC now owns 36,663 shares of the wireless technology company's stock valued at $5,632,000 after acquiring an additional 13,774 shares in the last quarter. O Keefe Stevens Advisory Inc. grew its position in QUALCOMM by 2.1% in the 1st quarter. O Keefe Stevens Advisory Inc. now owns 139,423 shares of the wireless technology company's stock worth $21,417,000 after purchasing an additional 2,828 shares in the last quarter. Hummer Financial Advisory Services Inc grew its holdings in shares of QUALCOMM by 3.2% in the first quarter. Hummer Financial Advisory Services Inc now owns 6,370 shares of the wireless technology company's stock valued at $978,000 after acquiring an additional 200 shares in the last quarter. Finally, Gradient Investments LLC purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $228,000. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 425,064 shares of company stock valued at $8,381,948. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Benchmark dropped their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note 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 company. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $1.49 during trading hours on Thursday, hitting $147.56. The stock had a trading volume of 5,596,695 shares, compared to its average volume of 8,741,018. The firm has a market capitalization of $162.02 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a 50 day simple moving average of $143.81 and a two-hundred day simple moving average of $155.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company posted $2.44 EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared 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 a positive change 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 dividend yield of 2.41%. QUALCOMM's dividend 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.