Von Berge Wealth Management Group LLC Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Von Berge Wealth Management Group LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,399 shares of the wireless technology company’s stock after purchasing an additional 191 shares during the quarter. Von Berge Wealth Management Group LLC’s holdings in QUALCOMM were worth $942,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter valued at about $30,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Bank of America lowered their target price on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Evercore ISI decreased their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $186.96.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The stock was 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. In the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $159.26 on Tuesday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market capitalization 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. The firm has a 50-day moving average price of $149.90 and a two-hundred day moving average price of $154.78. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last issued 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 firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. As a group, research analysts expect 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 was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

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.