QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,923 shares of the wireless technology company’s stock after acquiring an additional 123 shares during the period. TCI Wealth Advisors Inc.’s holdings in QUALCOMM were worth $857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. grew its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at about $32,000. Fortitude Family Office LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $35,000. Cranbrook Wealth Management LLC raised its position in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of QUALCOMM by 184.3% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Down 0.3 %

Shares of QCOM stock traded down $0.46 on Friday, reaching $179.64. 10,043,912 shares of the stock were exchanged, compared to its average volume of 8,171,053. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. The firm has a 50 day moving average of $167.69 and a two-hundred day moving average of $147.08. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $183.19.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 43.01%.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Canaccord Genuity Group raised their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna raised their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Barclays upped their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America lifted their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, KeyCorp upped their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $179.36.

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.