Wealth Enhancement Advisory Services LLC Buys 78,539 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 870,595 shares of the wireless technology company's stock after purchasing an additional 78,539 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of QUALCOMM worth $133,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Eagle Strategies LLC increased its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. boosted its holdings in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc boosted its position in shares of QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its position 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 purchasing an additional 65 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $3.12 during trading hours on Friday, hitting $145.22. 13,752,285 shares of the company's stock traded hands, compared to its average volume of 8,810,967. The business's fifty day moving average price is $144.60 and its two-hundred day moving average price is $155.74. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $159.45 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current 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 represents a $3.56 annualized dividend and a dividend yield of 2.45%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is 36.25%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares in the company, valued at $7,423,464.24. The trade was a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,068 shares of company stock worth $8,418,305. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Wells Fargo & Company decreased their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $192.08.

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.