Kingstone Capital Partners Texas LLC Has $1.38 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingstone Capital Partners Texas LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,949 shares of the wireless technology company’s stock after selling 255 shares during the period. QUALCOMM comprises approximately 1.1% of Kingstone Capital Partners Texas LLC’s investment portfolio, making the stock its 28th biggest position. Kingstone Capital Partners Texas LLC’s holdings in QUALCOMM were worth $1,375,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Eagle Strategies LLC raised its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in QUALCOMM by 3.6% during 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 purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of 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 worth $1,083,000 after purchasing an additional 63 shares in the last quarter. PDS Planning Inc increased its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after purchasing an additional 64 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of QUALCOMM by 15.8% in the fourth 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. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now directly owns 53,112 shares in the company, valued at approximately $7,423,464.24. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were 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. Over the last quarter, insiders sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QCOM shares. Evercore ISI dropped their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. One equities research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $189.88.

QUALCOMM Stock Up 4.1%

Shares of QCOM stock opened at $155.41 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company’s fifty day moving average price is $143.64 and its 200-day moving average price is $155.11. The company has a market capitalization of $170.64 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is 36.25%.

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.