Valley Wealth Managers Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,845 shares of the wireless technology company's stock after buying an additional 3,607 shares during the quarter. Valley Wealth Managers Inc.'s holdings in QUALCOMM were worth $5,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Brighton Jones LLC increased its stake in shares of 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 buying an additional 9,343 shares during the period. Revolve Wealth Partners LLC boosted 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 during the last quarter. AssuredPartners Investment Advisors LLC acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $930,000. Providence Capital Advisors LLC acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $5,285,000. Finally, Frazier Financial Advisors LLC raised its holdings in QUALCOMM by 21.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 1,269 shares of the wireless technology company's stock worth $196,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.
Analysts Set New Price Targets
Several research firms recently issued reports on QCOM. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Finally, UBS Group raised their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $184.86.
Read Our Latest Report on QCOM
QUALCOMM Stock Performance
Shares of QCOM stock opened at $158.40 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The firm has a 50-day moving average of $154.60 and a 200-day moving average of $155.03. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.64. The company has a market cap of $173.92 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.05 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 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
QUALCOMM Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.25%. QUALCOMM's payout ratio is currently 36.25%.
Insider Buying and Selling
In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer 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. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.
QUALCOMM Profile
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Free Report)
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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