Archford Capital Strategies LLC Has $1.49 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Archford Capital Strategies LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 23.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,712 shares of the wireless technology company’s stock after buying an additional 1,830 shares during the period. Archford Capital Strategies LLC’s holdings in QUALCOMM were worth $1,492,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of QCOM. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after buying an additional 670,432 shares during the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp increased its position in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the company’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 transaction of $35,265.90. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 22,793 shares in the company, 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. In the last three months, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Loop Capital dropped their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Hold” and an average target price of $186.96.

QUALCOMM Stock Up 1.7%

Shares of QUALCOMM stock opened at $155.71 on Wednesday. The business has a fifty day simple moving average of $148.16 and a 200 day simple moving average of $154.83. The stock has a market cap of $170.97 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26. 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 Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the company earned $2.44 EPS. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.29%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) 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.