Jmac Enterprises LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Jmac Enterprises LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 42.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,607 shares of the wireless technology company’s stock after buying an additional 1,363 shares during the quarter. Jmac Enterprises LLC’s holdings in QUALCOMM were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of QCOM. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the 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 transaction, the chief financial officer now owns 49,779 shares of the company’s stock, valued at $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on QCOM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Benchmark cut their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $186.96.

QUALCOMM Trading Down 1.5%

QCOM stock opened at $151.32 on Monday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market capitalization of $166.15 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.95 and a beta of 1.26. The business has a 50 day simple moving average of $147.54 and a two-hundred day simple moving average of $154.87.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. Research analysts anticipate 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 given a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend 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.