Net Worth Advisory Group Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Net Worth Advisory Group boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,485 shares of the wireless technology company’s stock after buying an additional 105 shares during the period. Net Worth Advisory Group’s holdings in QUALCOMM were worth $689,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter worth about $2,721,882,000. Amundi boosted its holdings 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 in the last quarter. Raymond James Financial Inc. acquired a new position in QUALCOMM during the 4th quarter worth approximately $527,053,000. GAMMA Investing LLC raised its stake in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after buying an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.2%

Shares of QCOM opened at $159.48 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a market capitalization of $175.11 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The stock has a fifty day moving average of $144.67 and a two-hundred day moving average of $155.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.23%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction 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 transaction, the insider now directly 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 a total of 423,464 shares of company stock worth $8,135,164 in the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $189.88.

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.