LRI Investments LLC Makes New $336,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

LRI Investments LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,823 shares of the wireless technology company’s stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings 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 buying an additional 157 shares during the period. Richardson Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the 4th quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC lifted its holdings 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 buying an additional 115 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their target price on QUALCOMM from $190.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Barclays raised their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler raised their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $199.63.

QUALCOMM Stock Up 2.7 %

Shares of QUALCOMM stock traded up $4.66 on Friday, reaching $180.05. The company’s stock had a trading volume of 6,567,842 shares, compared to its average volume of 8,034,185. The company has a market capitalization of $200.94 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 2.13 and a beta of 1.27. The firm’s fifty day simple moving average is $204.19 and its two-hundred day simple moving average is $177.26. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 37.09% and a net margin of 23.03%. Equities analysts anticipate that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,552,835 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.