MV Capital Management Inc. Has $3.40 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

MV Capital Management Inc. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,106 shares of the wireless technology company’s stock after buying an additional 3,293 shares during the quarter. MV Capital Management Inc.’s holdings in QUALCOMM were worth $3,396,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 over the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $159.13 on Wednesday. The stock has a 50 day simple moving average of $144.03 and a 200 day simple moving average of $155.14. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $174.72 billion, a PE ratio of 17.00, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate 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 net margin of 25.94% and a return on equity of 39.51%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Hold” and an average target price 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.