QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 54.7% in the first quarter, Holdings Channel.com reports. The fund owned 10,066 shares of the wireless technology company’s stock after buying an additional 3,561 shares during the period. Sagespring Wealth Partners LLC’s holdings in QUALCOMM were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the 4th quarter worth $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter worth $26,000. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter worth $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $29,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $156.87 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock’s 50-day moving average is $146.50 and its two-hundred day moving average is $155.12. The firm has a market cap of $172.24 billion, a P/E ratio of 16.76, a PEG ratio of 2.01 and a beta of 1.26.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.27%. QUALCOMM’s dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Hold” and an average target price of $189.88.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have 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.