QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Donald L. Hagan LLC

Donald L. Hagan LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,461 shares of the wireless technology company’s stock after purchasing an additional 159 shares during the period. QUALCOMM makes up 0.8% of Donald L. Hagan LLC’s portfolio, making the stock its 28th largest holding. Donald L. Hagan LLC’s holdings in QUALCOMM were worth $1,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the first quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QCOM shares. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.70 on Friday. The stock’s 50 day moving average price is $145.25 and its 200 day moving average price is $155.17. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The firm has a market capitalization of $174.25 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company’s stock.

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.