QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,342 shares of the wireless technology company’s stock after buying an additional 3,979 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in QUALCOMM were worth $7,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Teza Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company’s stock valued at $28,979,000 after buying an additional 6,017 shares in the last quarter. Amundi grew its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. First Foundation Advisors grew its holdings in QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after buying an additional 45,769 shares during the last quarter. Finally, Kanawha Capital Management LLC increased its position in QUALCOMM by 1.9% during the first quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company’s stock worth $13,120,000 after buying an additional 1,573 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Bank of America cut 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. Susquehanna decreased their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, Citigroup decreased their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. One research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $186.96.

Insider Buying and Selling

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $220,384.00. Following the sale, the insider 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 disclosure for this sale can be found here. In the last three months, insiders sold 425,016 shares of company stock valued at $8,437,440. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $162.11 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The firm has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The business’s 50-day simple moving average is $151.32 and its 200-day simple moving average is $154.93.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.20%. QUALCOMM’s payout ratio is presently 36.25%.

QUALCOMM Company 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.