Simplicity Wealth LLC Purchases 7,822 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Simplicity Wealth LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 282.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,592 shares of the wireless technology company's stock after acquiring an additional 7,822 shares during the period. Simplicity Wealth LLC's holdings in QUALCOMM were worth $1,627,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Amundi boosted its position in shares of QUALCOMM by 36.6% during the fourth 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. Raymond James Financial Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth $527,053,000. GAMMA Investing LLC grew its holdings in shares of QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after buying an additional 3,247,068 shares during the period. Finally, Northern Trust Corp grew 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 buying an additional 1,493,076 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 2.5%

QCOM traded down $3.98 on Friday, hitting $154.72. 8,444,486 shares of the company were exchanged, compared to its average volume of 8,738,389. The stock's fifty day moving average is $145.25 and its 200-day moving average is $155.17. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $169.88 billion, a PE ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26.

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, beating 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 during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analyst Weigh In

Several analysts recently commented on QCOM shares. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $189.88.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last quarter. Company insiders own 0.08% of the company's stock.

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.