Barnes Dennig Private Wealth Management LLC Buys New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Barnes Dennig Private Wealth Management LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 654 shares of the wireless technology company’s stock, valued at approximately $100,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in QUALCOMM in the first quarter worth $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.5%

NASDAQ QCOM opened at $159.26 on Tuesday. The stock has a market cap of $174.87 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The stock has a 50 day simple moving average of $149.90 and a two-hundred day simple moving average of $154.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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 company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. On average, analysts forecast 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 was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on 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 directly owned 49,779 shares of the company’s stock, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Susquehanna dropped their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Loop Capital lowered their price target 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 equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.