Secure Asset Management LLC Acquires 4,851 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Secure Asset Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 42.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,342 shares of the wireless technology company's stock after purchasing an additional 4,851 shares during the quarter. Secure Asset Management LLC's holdings in QUALCOMM were worth $2,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new position in QUALCOMM during the 4th quarter worth $207,000. LaFleur & Godfrey LLC grew its stake in QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after buying an additional 300 shares during the last quarter. Brighton Jones LLC grew its stake in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of QUALCOMM during the fourth quarter valued at $10,394,000. Finally, Revolve Wealth Partners LLC increased its holdings in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction 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. Over the last ninety days, insiders sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research 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 on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $1.68 during trading hours on Friday, reaching $149.24. 5,789,125 shares of the company's stock were exchanged, compared to its average volume of 8,734,373. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock has a market capitalization of $163.87 billion, a P/E ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26. The business has a fifty day moving average price of $143.61 and a 200-day moving average price of $155.12. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping 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 company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The company's quarterly revenue was up 17.0% compared to the same quarter last year. 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. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is presently 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.