15,792 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Vivid Wealth Management LLC

Vivid Wealth Management LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,792 shares of the wireless technology company's stock, valued at approximately $2,426,000.

Several other institutional investors have also recently made changes to their positions in the business. Inscription Capital LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $401,000. Grove Bank & Trust boosted its holdings in QUALCOMM by 43.4% during the first quarter. Grove Bank & Trust now owns 4,252 shares of the wireless technology company's stock worth $653,000 after buying an additional 1,286 shares in the last quarter. Grimes & Company Inc. boosted its holdings in QUALCOMM by 9.0% during the first quarter. Grimes & Company Inc. now owns 184,173 shares of the wireless technology company's stock worth $28,291,000 after buying an additional 15,233 shares in the last quarter. Stockman Wealth Management Inc. grew its position in QUALCOMM by 669.3% during the first quarter. Stockman Wealth Management Inc. now owns 48,891 shares of the wireless technology company's stock valued at $7,510,000 after buying an additional 42,536 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in QUALCOMM by 4.7% in the first quarter. QRG Capital Management Inc. now owns 386,975 shares of the wireless technology company's stock valued at $59,443,000 after buying an additional 17,510 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on QCOM shares. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Bank of America decreased their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $190.28.

QUALCOMM Trading Up 0.3%

NASDAQ:QCOM traded up $0.53 during trading hours on Wednesday, reaching $154.99. 1,519,446 shares of the stock were exchanged, compared to its average volume of 8,446,348. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $225.90. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $146.71 and a two-hundred day moving average of $155.12. The company has a market capitalization of $170.18 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.75 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during 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%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is an increase 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 2.30%. QUALCOMM's payout ratio is 36.25%.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company's stock.

About QUALCOMM

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.