Larson Financial Group LLC Buys 3,961 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Larson Financial Group LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 252.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,528 shares of the wireless technology company’s stock after acquiring an additional 3,961 shares during the quarter. Larson Financial Group LLC’s holdings in QUALCOMM were worth $800,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QCOM. International Assets Investment Management LLC lifted its position in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Barclays PLC increased its stake in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares during the last quarter. Invesco Ltd. increased its stake in shares of QUALCOMM by 15.7% during the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of QUALCOMM by 48.8% during the 4th quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Cantor Fitzgerald upped their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday. They set a “buy” rating and a $200.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Stock Up 0.8 %

Shares of QUALCOMM stock traded up $1.29 during trading hours on Tuesday, reaching $161.47. The company’s stock had a trading volume of 2,523,019 shares, compared to its average volume of 8,547,285. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The company has a market capitalization of $180.20 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. The stock’s fifty day simple moving average is $165.01 and its two-hundred day simple moving average is $143.47. 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 posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, research analysts forecast 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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now 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 is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock valued at $5,973,728. Company insiders own 0.08% of the company’s stock.

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.