Bellecapital International Ltd. Purchases Shares of 2,408 QUALCOMM Incorporated (NASDAQ:QCOM)

Bellecapital International Ltd. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,408 shares of the wireless technology company’s stock, valued at approximately $370,000.

Several other institutional investors and hedge funds also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the fourth quarter valued at $26,000. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter worth about $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $159.48 on Thursday. 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 stock has a 50 day simple moving average of $144.67 and a 200 day simple moving average of $155.17. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a market cap of $175.11 billion, a P/E ratio of 17.04, a PEG ratio of 2.01 and a beta of 1.26.

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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is 36.25%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QCOM shares. Citigroup decreased their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Robert W. Baird reduced their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Susquehanna cut their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One equities research 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 currently has an average rating of “Hold” and an average target price of $189.88.

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.