SFE Investment Counsel Purchases 6,036 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SFE Investment Counsel raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,374 shares of the wireless technology company’s stock after buying an additional 6,036 shares during the period. QUALCOMM comprises about 2.8% of SFE Investment Counsel’s portfolio, making the stock its 4th largest holding. SFE Investment Counsel’s holdings in QUALCOMM were worth $14,036,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after acquiring an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares during the last quarter. Congress Wealth Management LLC DE raised its position in QUALCOMM by 20.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 33,158 shares of the wireless technology company’s stock valued at $5,094,000 after purchasing an additional 5,670 shares during the period. CoreFirst Bank & Trust purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, EntryPoint Capital LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $330,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $159.88 on Thursday. 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 company has a market cap of $175.55 billion, a P/E ratio of 16.28, a PEG ratio of 2.04 and a beta of 1.26. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $189.61. The company has a 50-day moving average price of $154.35 and a 200 day moving average price of $155.05.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 26.11% and a return on equity of 40.11%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 earnings per share. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s payout ratio is 36.25%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’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 transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 424,099 shares of company stock worth $8,310,735. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group boosted their target price on QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday. Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Citigroup reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average price target of $184.86.

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.