1,342 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Puff Wealth Management LLC

Puff Wealth Management LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,342 shares of the wireless technology company’s stock, valued at approximately $206,000.

Other institutional investors have also recently made changes to their positions in the company. Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $240,000. Teza Capital Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at approximately $1,541,000. Purkiss Capital Advisors LLC purchased a new position in QUALCOMM during the 4th quarter valued at approximately $303,000. Amundi grew its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors grew its holdings in QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after buying an additional 45,769 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $158.70 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $174.25 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.01 and a beta of 1.26. The stock has a 50 day moving average price of $145.25 and a 200 day moving average price of $155.17.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company earned $2.44 EPS. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm 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 dividend of $0.89 per share. 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 2.24%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QCOM. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Loop Capital cut their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $189.88.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 423,464 shares of company stock valued at $8,135,164. Insiders own 0.08% of the company’s stock.

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.