QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 282.4% in the 1st quarter, HoldingsChannel reports. The firm owned 10,592 shares of the wireless technology company’s stock after purchasing an additional 7,822 shares during the period. Simplicity Wealth LLC’s holdings in QUALCOMM were worth $1,627,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Howard Bailey Securities LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $240,000. Teza Capital Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $1,541,000. Purkiss Capital Advisors LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $303,000. Amundi raised its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Finally, First Foundation Advisors raised its stake in QUALCOMM by 41.2% in the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after purchasing an additional 45,769 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QCOM. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. One research 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.com, QUALCOMM has a consensus rating of “Hold” and an average target price of $189.88.

QUALCOMM Price Performance

QCOM opened at $159.13 on Wednesday. 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 company has a 50 day moving average of $144.03 and a two-hundred day moving average of $155.14. The company has a market cap of $174.72 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted 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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost 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%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the transaction, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction 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. Over the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.