Motiv8 Investments LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Motiv8 Investments LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,669 shares of the wireless technology company’s stock after acquiring an additional 205 shares during the quarter. Motiv8 Investments LLC’s holdings in QUALCOMM were worth $1,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Teza Capital Management LLC bought a new position in QUALCOMM during the 4th quarter valued at about $1,541,000. Purkiss Capital Advisors LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $303,000. Amundi raised its holdings 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 buying an additional 3,905,918 shares during the period. First Foundation Advisors lifted its stake in shares of 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 last quarter. Finally, Sound Income Strategies LLC boosted its holdings in QUALCOMM by 42.2% during the 1st quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company’s stock valued at $162,000 after acquiring an additional 313 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the transaction, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at $7,661,403.70. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $155.93 on Thursday. The company has a 50 day simple moving average of $148.57 and a two-hundred day simple moving average of $154.84. The stock has a market cap of $171.21 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 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, beating analysts’ consensus estimates of $2.82 by $0.03. The company 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 quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.28%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QCOM shares. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI lowered their price target on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital decreased 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. 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $186.96.

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.