QUALCOMM Incorporated (NASDAQ:QCOM) Position Increased by Core Wealth Partners LLC

Core Wealth Partners LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,427 shares of the wireless technology company’s stock after purchasing an additional 198 shares during the quarter. Core Wealth Partners LLC’s holdings in QUALCOMM were worth $749,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% during the third 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. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM in the 4th quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QCOM traded up $3.65 during trading on Thursday, hitting $203.81. The stock had a trading volume of 4,996,211 shares, compared to its average volume of 10,966,074. The firm has a market cap of $227.45 billion, a PE ratio of 27.39, a P/E/G ratio of 2.43 and a beta of 1.27. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a 50 day simple moving average of $198.20 and a 200-day simple moving average of $170.71.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.67%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. Insiders have sold 42,185 shares of company stock worth $7,936,005 in the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. KeyCorp raised their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. TD Cowen raised their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Morgan Stanley lifted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company lifted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

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.