4,799 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Smart Money Group LLC

Smart Money Group LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,799 shares of the wireless technology company's stock, valued at approximately $737,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC boosted its stake in shares of QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after buying an additional 300 shares during the period. Brighton Jones LLC raised its holdings in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the fourth quarter worth approximately $26,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in QUALCOMM by 6.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 89,966 shares of the wireless technology company's stock worth $13,821,000 after acquiring an additional 5,226 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Benchmark reduced their price objective 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. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Bank of America dropped their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. 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 stock has an average rating of "Hold" and an average price target of $186.96.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 425,016 shares of company stock worth $8,437,440 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $0.22 during trading on Friday, reaching $162.11. The company's stock had a trading volume of 4,280,773 shares, compared to its average volume of 8,546,883. The business's fifty day moving average price is $151.32 and its 200-day moving average price is $154.97. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm has a market cap of $177.99 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26.

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 the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 EPS. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's 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.