Aurora Private Wealth Inc. Buys Shares of 11,888 QUALCOMM Incorporated (NASDAQ:QCOM)

Aurora Private Wealth Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,888 shares of the wireless technology company’s stock, valued at approximately $1,826,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Teza Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $303,000. Amundi increased its position in 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 buying an additional 3,905,918 shares in the last quarter. First Foundation Advisors raised its stake in QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock worth $24,083,000 after acquiring an additional 45,769 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in QUALCOMM by 42.2% during the first quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company’s stock valued at $162,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on QCOM shares. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Loop Capital dropped their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $186.96.

Insider Buying and Selling

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 transaction of $486,951.30. Following the sale, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $155.71 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The company has a 50 day moving average price of $148.16 and a 200-day moving average price of $154.83. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The stock has a market capitalization of $170.97 billion, a PE ratio of 15.86, a PEG ratio of 1.98 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its 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. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.29%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 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.