Whitaker Myers Wealth Managers LTD. Acquires Shares of 2,961 QUALCOMM Incorporated (NASDAQ:QCOM)

Whitaker Myers Wealth Managers LTD. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,961 shares of the wireless technology company's stock, valued at approximately $455,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank purchased a new position in shares of QUALCOMM in the 4th quarter worth about $2,721,882,000. Amundi grew its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Northern Trust Corp increased its holdings in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research reports. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. TD Cowen lowered their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $189.88.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business'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 value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 425,064 shares of company stock worth $8,381,948 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 1.1%

Shares of QCOM stock opened at $149.24 on Friday. The company has a market capitalization of $163.87 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The business's fifty day moving average is $143.61 and its 200 day moving average is $155.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the firm posted $2.44 EPS. The company's revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

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.

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