Portside Wealth Group LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,506 shares of the wireless technology company's stock after purchasing an additional 2,610 shares during the quarter. Portside Wealth Group LLC's holdings in QUALCOMM were worth $2,996,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth about $30,000. Institutional investors own 74.35% of the company's stock.
Insider Buying and Selling
In related news, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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. In the last quarter, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms recently weighed in on QCOM. Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Robert W. Baird dropped their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus target price of $189.88.
Get Our Latest Stock Analysis on QUALCOMM
QUALCOMM Trading Down 0.5%
QCOM traded down $0.78 during mid-day trading on Thursday, reaching $158.70. The stock had a trading volume of 5,678,457 shares, compared to its average volume of 8,742,595. The stock has a market capitalization of $174.25 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm's fifty day simple moving average is $144.67 and its two-hundred day simple moving average is $155.17. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company earned $2.44 EPS. The firm's revenue was up 17.0% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.
QUALCOMM Increases Dividend
The business also recently declared 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. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.
About QUALCOMM
(
Free Report)
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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