Constitution Capital LLC Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Constitution Capital LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,200 shares of the wireless technology company’s stock, valued at approximately $338,000.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $29,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM opened at $149.24 on Friday. The firm has a 50-day moving average price of $143.61 and a 200 day moving average price of $155.12. The firm has a market capitalization of $163.87 billion, a PE ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week 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 analysts’ consensus estimates of $2.82 by $0.03. The firm 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%. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 EPS. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 425,064 shares of company stock valued at $8,381,948. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. TD Cowen lowered their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Finally, Citigroup lowered their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Hold” and a consensus target price of $189.88.

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.