QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Wright Investors Service Inc.

Wright Investors Service Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,910 shares of the wireless technology company's stock after purchasing an additional 1,777 shares during the quarter. Wright Investors Service Inc.'s holdings in QUALCOMM were worth $2,137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in QUALCOMM during the fourth quarter worth $207,000. LaFleur & Godfrey LLC boosted its stake in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after acquiring an additional 300 shares in the last quarter. Brighton Jones LLC raised its stake in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in QUALCOMM during the fourth quarter worth approximately $10,394,000. Finally, Revolve Wealth Partners LLC grew its holdings in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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. Insiders sold a total of 425,064 shares of company stock valued at $8,381,948 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $0.47 on Wednesday, reaching $149.41. 3,470,730 shares of the company's stock traded hands, compared to its average volume of 8,730,820. The stock has a 50 day moving average price of $143.88 and a 200-day moving average price of $155.39. The firm has a market cap of $164.05 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 2.01 and a beta of 1.29. 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 Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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. 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 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business earned $2.44 earnings per share. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.38%. QUALCOMM's payout ratio is 36.25%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Susquehanna dropped their price objective 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. Finally, Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $189.88.

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.