Barrett & Company Inc. Purchases 606 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Barrett & Company Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,477 shares of the wireless technology company’s stock after buying an additional 606 shares during the period. Barrett & Company Inc.’s holdings in QUALCOMM were worth $841,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock 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 thirteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Hold” and an average price target of $190.28.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now owns 49,779 shares of the company’s stock, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock worth $8,135,164 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 1.5%

QCOM stock opened at $154.46 on Wednesday. The business has a 50 day moving average of $146.71 and a 200 day moving average of $155.12. The firm has a market cap of $169.60 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

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.