Generali Investments Management Co LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Generali Investments Management Co LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 114.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,977 shares of the wireless technology company’s stock after buying an additional 4,262 shares during the period. Generali Investments Management Co LLC’s holdings in QUALCOMM were worth $1,225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Eagle Strategies LLC lifted its holdings in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. lifted its holdings in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after acquiring an additional 59 shares during the last quarter. TBH Global Asset Management LLC lifted its holdings in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after acquiring an additional 63 shares during the last quarter. PDS Planning Inc boosted its position in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after purchasing an additional 64 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its stake in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.0%

NASDAQ QCOM opened at $147.56 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm’s fifty day simple moving average is $143.69 and its 200-day simple moving average is $155.22. The company has a market capitalization of $162.02 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate 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 firm posted $2.44 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed 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 represents a $3.56 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 425,064 shares of company stock valued at $8,381,948. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QCOM shares. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $189.88.

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.