Capital Investment Advisors LLC Acquires 12,072 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Investment Advisors LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,613 shares of the wireless technology company’s stock after acquiring an additional 12,072 shares during the period. Capital Investment Advisors LLC’s holdings in QUALCOMM were worth $42,490,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $29,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.1%

Shares of NASDAQ:QCOM opened at $149.24 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The stock has a market cap of $163.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26. The business has a 50-day moving average price of $143.61 and a 200-day moving average price of $155.12.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Evercore ISI dropped their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $189.88.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’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 disclosure for this sale can be found here. Insiders sold 425,064 shares of company stock valued at $8,381,948 in the last three months. 0.08% of the stock is currently owned by insiders.

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.