QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,171 shares of the wireless technology company’s stock after purchasing an additional 75 shares during the period. Creative Financial Designs Inc. ADV’s holdings in QUALCOMM were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth about $2,721,882,000. Amundi raised its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth about $527,053,000. GAMMA Investing LLC raised its position in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research analyst reports. Bank of America reduced their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. 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 company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Performance

Shares of QCOM stock 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. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The stock has a market capitalization of $174.08 billion, a PE ratio of 16.14, a P/E/G ratio of 2.04 and a beta of 1.26. The firm has a 50 day moving average of $149.44 and a two-hundred day moving average of $154.84.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, 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 value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The shares were 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 in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

About QUALCOMM

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.