Sfmg LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sfmg LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,738 shares of the wireless technology company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fairfield Bush & CO. raised its holdings in QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after purchasing an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in QUALCOMM by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after purchasing an additional 245,335 shares in the last quarter. Merit Financial Group LLC raised its holdings in QUALCOMM by 25.2% during the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after purchasing an additional 555 shares in the last quarter. NewEdge Advisors LLC raised its holdings in QUALCOMM by 23.8% during the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after purchasing an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in QUALCOMM by 30.4% during the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,360 shares of company stock worth $7,184,678. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. KeyCorp increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Rosenblatt Securities increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Susquehanna increased their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Finally, Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.90.

QUALCOMM Stock Down 2.5 %

Shares of NASDAQ QCOM opened at $164.32 on Thursday. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The firm’s 50 day moving average price is $164.47 and its 200 day moving average price is $142.20. The firm has a market cap of $183.38 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

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.