World Equity Group Inc. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

World Equity Group Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 118.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,074 shares of the wireless technology company's stock after acquiring an additional 2,754 shares during the period. World Equity Group Inc.'s holdings in QUALCOMM were worth $785,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Eagle Strategies LLC raised its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. raised its stake in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares during the last quarter. PDS Planning Inc raised its stake in QUALCOMM by 1.6% during the 4th 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. Cassady Schiller Wealth Management LLC raised its stake in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after buying an additional 65 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. raised its stake in QUALCOMM by 2.9% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock valued at $371,000 after buying an additional 67 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 1.5%

Shares of QCOM stock opened at $151.32 on Friday. The stock has a fifty day simple moving average of $147.54 and a two-hundred day simple moving average of $154.97. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $215.47. The firm has a market capitalization of $166.15 billion, a PE ratio of 15.41, a PEG ratio of 1.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The business's revenue was up 17.0% on a year-over-year basis. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock valued at $8,135,164 in the last 90 days. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on QCOM shares. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday. Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Evercore ISI cut their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. One investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $190.28.

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.

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