Kingstone Capital Partners Texas LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingstone Capital Partners Texas LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,204 shares of the wireless technology company’s stock, valued at approximately $1,414,000. QUALCOMM makes up about 1.1% of Kingstone Capital Partners Texas LLC’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the 4th quarter worth $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter worth $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth $29,000. Finally, CoreFirst Bank & Trust bought a new position in QUALCOMM in the 4th quarter worth $33,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.4%

QCOM opened at $145.38 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market cap of $159.63 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm has a 50 day simple moving average of $145.46 and a 200 day simple moving average of $156.40. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction 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 sale, the insider now directly owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,568 shares of company stock valued at $1,818,305. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent analyst reports. Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock 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 thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $192.08.

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.