St. Louis Financial Planners Asset Management LLC Purchases 3,153 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

St. Louis Financial Planners Asset Management LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 27.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,460 shares of the wireless technology company's stock after acquiring an additional 3,153 shares during the period. QUALCOMM comprises approximately 1.7% of St. Louis Financial Planners Asset Management LLC's holdings, making the stock its 16th largest position. St. Louis Financial Planners Asset Management LLC's holdings in QUALCOMM were worth $2,221,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of QUALCOMM in the fourth quarter worth approximately $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth approximately $527,053,000. GAMMA Investing LLC grew its stake in shares of QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the period. Finally, Northern Trust Corp grew its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $189.88.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $3.12 during trading hours on Friday, hitting $145.22. 13,752,285 shares of the stock traded hands, compared to its average volume of 8,785,850. 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 Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a market cap of $159.45 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The stock has a 50 day moving average price of $144.30 and a 200 day moving average price of $155.59.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The company's quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast 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 will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 425,068 shares of company stock valued at $8,418,305. 0.08% of the stock is currently owned by corporate insiders.

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.