Stablepoint Partners LLC Has $4.97 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Stablepoint Partners LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,359 shares of the wireless technology company's stock after buying an additional 3,489 shares during the quarter. Stablepoint Partners LLC's holdings in QUALCOMM were worth $4,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QCOM. Eagle Strategies LLC increased its stake in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its stake in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the period. TBH Global Asset Management LLC increased its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after buying an additional 63 shares during the period. PDS Planning Inc increased its stake in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares during the period. Finally, Cassady Schiller Wealth Management LLC increased its stake in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were 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. In the last ninety days, insiders sold 425,064 shares of company stock worth $8,381,948. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Loop Capital cut their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $189.88.

QUALCOMM Stock Down 1.0%

QCOM stock opened at $147.56 on Friday. The firm has a 50 day moving average of $143.69 and a 200 day moving average of $155.22. The stock has a market capitalization of $162.02 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. 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 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the business posted $2.44 EPS. The business'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 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.41%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's 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.

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