Apollon Wealth Management LLC Buys 12,757 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Apollon Wealth Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,151 shares of the wireless technology company's stock after acquiring an additional 12,757 shares during the period. Apollon Wealth Management LLC's holdings in QUALCOMM were worth $4,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM during the fourth quarter worth about $32,000. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock worth $26,000 after buying an additional 122 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $35,000. Cranbrook Wealth Management LLC raised its position in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Finally, Avalon Trust Co grew its position in QUALCOMM by 520.0% in the fourth quarter. Avalon Trust Co now owns 341 shares of the wireless technology company's stock worth $49,000 after acquiring an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Piper Sandler raised their price target on QUALCOMM from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday. Evercore ISI initiated coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an "in-line" rating and a $177.00 target price for the company. Susquehanna increased their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a "positive" rating in a research report on Wednesday, April 10th. Canaccord Genuity Group boosted their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an "underweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.36.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Neil Martin sold 371 shares of the company's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company's stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. Insiders have sold a total of 46,316 shares of company stock worth $7,796,128 in the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.2 %

QCOM traded up $2.21 during midday trading on Monday, reaching $181.85. The company's stock had a trading volume of 6,976,661 shares, compared to its average volume of 8,731,813. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $183.19. The stock's 50-day moving average is $168.19 and its 200-day moving average is $147.58. The firm has a market capitalization of $202.94 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.87%. QUALCOMM's payout ratio is presently 43.01%.

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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