256 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Abound Financial LLC

Abound Financial LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 256 shares of the wireless technology company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Crossmark Global Holdings Inc. increased its position in shares of QUALCOMM by 1.8% in the first quarter. Crossmark Global Holdings Inc. now owns 382,225 shares of the wireless technology company’s stock worth $58,714,000 after acquiring an additional 6,607 shares in the last quarter. Centennial Bank AR increased its position in shares of QUALCOMM by 47.5% in the first quarter. Centennial Bank AR now owns 618 shares of the wireless technology company’s stock worth $95,000 after acquiring an additional 199 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of QUALCOMM by 6.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 68,729 shares of the wireless technology company’s stock worth $10,557,000 after acquiring an additional 4,212 shares in the last quarter. Financial Counselors Inc. increased its position in shares of QUALCOMM by 6.1% in the first quarter. Financial Counselors Inc. now owns 211,168 shares of the wireless technology company’s stock worth $32,438,000 after acquiring an additional 12,229 shares in the last quarter. Finally, Byrne Financial Freedom LLC increased its position in shares of QUALCOMM by 49.1% in the first quarter. Byrne Financial Freedom LLC now owns 7,387 shares of the wireless technology company’s stock worth $1,135,000 after acquiring an additional 2,432 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital dropped their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, June 17th. Finally, Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and a consensus target price of $186.96.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction on 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. Over the last three months, insiders sold 424,747 shares of company stock worth $8,402,174. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $162.11 on Monday. The firm has a fifty day simple moving average of $151.32 and a 200-day simple moving average of $154.97. 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 1-year low of $120.80 and a 1-year high of $211.09. The stock has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the previous year, the company earned $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed 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 2.20%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM’s payout ratio is presently 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.