Crumly & Associates Inc. Buys 231 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Crumly & Associates Inc. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,807 shares of the wireless technology company’s stock after acquiring an additional 231 shares during the period. Crumly & Associates Inc.’s holdings in QUALCOMM were worth $585,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Eagle Strategies LLC raised its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. raised its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after acquiring an additional 59 shares during the period. PDS Planning Inc raised its position in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after acquiring an additional 64 shares during the period. Cassady Schiller Wealth Management LLC raised its position in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after acquiring an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. raised its position in QUALCOMM by 2.9% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company’s stock worth $371,000 after acquiring an additional 67 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were 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 $7,272,711.90. The trade was a 6.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price target 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. TD Cowen lowered their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Down 1.5%

Shares of NASDAQ:QCOM opened at $151.32 on Friday. The firm has a fifty day moving average price of $147.54 and a two-hundred day moving average price of $154.91. 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 company has a market cap of $166.15 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.95 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business 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 company earned $2.44 EPS. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared 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 represents a $3.56 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

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.