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

Wealth Enhancement Advisory Services LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 about 0.08% of QUALCOMM worth $133,741,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $31,000. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of several research reports. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Benchmark lowered their price target 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. Finally, Wells Fargo & Company dropped their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $189.88.

QUALCOMM Price Performance

QUALCOMM stock traded down $3.12 during mid-day trading on Friday, reaching $145.22. The company had a trading volume of 13,752,285 shares, compared to its average volume of 8,785,850. The business has a fifty day simple moving average of $144.30 and a 200 day simple moving average of $155.53. The company has a market cap 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 Incorporated has a fifty-two week low of $120.80 and a fifty-two 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the business posted $2.44 EPS. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated 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. Insiders sold a total of 425,068 shares of company stock worth $8,418,305 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM 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.