Arete Wealth Advisors LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,883 shares of the wireless technology company’s stock, valued at approximately $1,006,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Naviter Wealth LLC raised its stake in shares of QUALCOMM by 41.2% during the first quarter. Naviter Wealth LLC now owns 5,765 shares of the wireless technology company’s stock worth $735,000 after buying an additional 1,682 shares during the last quarter. BSW Wealth Partners raised its stake in shares of QUALCOMM by 4.6% during the first quarter. BSW Wealth Partners now owns 7,609 shares of the wireless technology company’s stock worth $971,000 after buying an additional 335 shares during the last quarter. Richard W. Paul & Associates LLC raised its stake in shares of QUALCOMM by 15.9% during the first quarter. Richard W. Paul & Associates LLC now owns 3,136 shares of the wireless technology company’s stock worth $400,000 after buying an additional 430 shares during the last quarter. Alight Capital Management LP bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $880,000. Finally, Smead Capital Management Inc. raised its stake in shares of QUALCOMM by 2.5% during the first quarter. Smead Capital Management Inc. now owns 779,700 shares of the wireless technology company’s stock worth $99,474,000 after buying an additional 19,013 shares during the last quarter. 71.10% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CTO James H. Thompson sold 27,962 shares of QUALCOMM stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total value of $3,166,137.26. Following the completion of the sale, the chief technology officer now owns 241,369 shares in the company, valued at approximately $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Friday, August 11th. The shares were sold at an average price of $114.16, for a total value of $114,160.00. Following the completion of the sale, the insider now owns 6,745 shares in the company, valued at approximately $770,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 27,962 shares of QUALCOMM stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the sale, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,962 shares of company stock worth $3,391,567. 0.07% of the stock is currently owned by insiders.
QUALCOMM Stock Up 1.2 %
QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.51 billion. Equities analysts predict that QUALCOMM Incorporated will post 6.41 EPS for the current year.
QUALCOMM Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a yield of 2.81%. QUALCOMM’s payout ratio is 41.88%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on QCOM. Rosenblatt Securities reiterated a “buy” rating and issued a $145.00 target price on shares of QUALCOMM in a report on Thursday. UBS Group increased their target price on shares of QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday. StockNews.com initiated coverage on shares of QUALCOMM in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Morgan Stanley raised their target price on shares of QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.96.
Get Our Latest Stock Analysis on QUALCOMM
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, application processing, multimedia, and global positioning system products.
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