Mendel Capital Management LLC Acquires 826 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Mendel Capital Management LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.7% in the 1st quarter, HoldingsChannel reports. The firm owned 7,318 shares of the wireless technology company’s stock after purchasing an additional 826 shares during the quarter. Mendel Capital Management LLC’s holdings in QUALCOMM were worth $1,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Eagle Strategies LLC raised its position in shares of QUALCOMM by 4.3% during 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 last quarter. Clark Capital Management Group Inc. raised its position in shares of QUALCOMM by 3.6% during 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 last quarter. PDS Planning Inc raised its position in shares of QUALCOMM by 1.6% during 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 last quarter. Cassady Schiller Wealth Management LLC raised its position in shares of QUALCOMM by 15.8% during 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 last quarter. Finally, Pettyjohn Wood & White Inc. raised its position in shares of QUALCOMM by 2.9% during 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 last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Citigroup decreased their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $186.96.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $158.54 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $149.44 and its two-hundred day moving average price is $154.84. The firm has a market capitalization of $174.08 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 2.04 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the company earned $2.44 EPS. The company’s revenue was up 17.0% on a year-over-year basis. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm’s stock in a transaction 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 trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. 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. Insiders own 0.08% of the company’s stock.

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.