Strategic Financial Concepts LLC Buys New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Financial Concepts LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,497 shares of the wireless technology company’s stock, valued at approximately $592,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. boosted its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Benchmark started coverage on QUALCOMM in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target for the company. Mizuho increased their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Rosenblatt Securities boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.68.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 2.0 %

NASDAQ QCOM traded down $3.35 on Tuesday, reaching $165.85. 6,908,978 shares of the company were exchanged, compared to its average volume of 8,481,063. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The stock has a market capitalization of $185.09 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The business’s fifty day moving average price is $166.45 and its 200 day moving average price is $145.75. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

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.