Focus Partners Advisor Solutions LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Focus Partners Advisor Solutions LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the fourth quarter, HoldingsChannel reports. The fund owned 8,017 shares of the wireless technology company’s stock after acquiring an additional 442 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in QUALCOMM were worth $1,232,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter worth about $29,000. Finally, CoreFirst Bank & Trust purchased a new position in QUALCOMM in the fourth quarter worth about $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares of the company’s stock, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,568 shares of company stock worth $1,818,305 over the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $147.37 on Friday. The firm has a 50 day moving average of $145.68 and a 200 day moving average of $156.54. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $161.81 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on QCOM shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $192.08.

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.