Childress Capital Advisors LLC Acquires 200 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Childress Capital Advisors LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,998 shares of the wireless technology company’s stock after purchasing an additional 200 shares during the quarter. Childress Capital Advisors LLC’s holdings in QUALCOMM were worth $460,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 1.5%

Shares of NASDAQ QCOM opened at $151.32 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The stock has a market capitalization of $166.15 billion, a PE ratio of 15.41, a P/E/G ratio of 1.95 and a beta of 1.26. The business’s fifty day moving average price is $147.54 and its 200-day moving average price is $154.91.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 return on equity of 40.11% and a net margin of 26.11%. 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 previous year, the company posted $2.44 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. 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 yield of 2.35%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Bank of America decreased their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI cut their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus price target of $186.96.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated 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 SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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.