CJM Wealth Advisers Ltd. Acquires Shares of 10,032 QUALCOMM Incorporated (NASDAQ:QCOM)

CJM Wealth Advisers Ltd. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,032 shares of the wireless technology company’s stock, valued at approximately $1,541,000. QUALCOMM comprises 0.5% of CJM Wealth Advisers Ltd.’s holdings, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were 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. Insiders have sold a total of 425,064 shares of company stock worth $8,381,948 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $149.24 on Monday. The stock has a market cap of $163.87 billion, a PE ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26. The company’s fifty day moving average is $143.61 and its 200 day moving average is $155.12. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its 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 for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. 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. Citigroup cut their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. TD Cowen cut their price target 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. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.88.

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.