Teamwork Financial Advisors LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Teamwork Financial Advisors LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,174 shares of the wireless technology company's stock, valued at approximately $2,792,000.

Several other hedge funds have also added to or reduced their stakes in QCOM. Greenfield Savings Bank lifted its stake in shares of QUALCOMM by 11.7% in the 1st quarter. Greenfield Savings Bank now owns 1,620 shares of the wireless technology company's stock valued at $249,000 after purchasing an additional 170 shares during the period. Apella Capital LLC lifted its position in shares of QUALCOMM by 2.7% during the 1st quarter. Apella Capital LLC now owns 5,502 shares of the wireless technology company's stock valued at $790,000 after acquiring an additional 145 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in QUALCOMM by 9.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,003 shares of the wireless technology company's stock worth $5,223,000 after acquiring an additional 2,901 shares in the last quarter. Crestmont Private Wealth LLC grew its holdings in QUALCOMM by 34.5% in the first quarter. Crestmont Private Wealth LLC now owns 3,184 shares of the wireless technology company's stock worth $489,000 after purchasing an additional 817 shares during the period. Finally, Spring Capital Management LLC increased its stake in QUALCOMM by 1.9% in the first quarter. Spring Capital Management LLC now owns 57,833 shares of the wireless technology company's stock valued at $8,884,000 after purchasing an additional 1,090 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.49 on Thursday, hitting $147.56. 5,596,695 shares of the company traded hands, compared to its average volume of 8,741,024. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The firm's 50-day simple moving average is $143.81 and its 200 day simple moving average is $155.34. The company has a market cap of $162.02 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company 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 is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.41%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's 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 425,064 shares of company stock worth $8,381,948 in the last three months. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QCOM shares. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Citigroup decreased their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $189.88.

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.