CCM Investment Advisers LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CCM Investment Advisers LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 86,632 shares of the wireless technology company’s stock after buying an additional 11,407 shares during the period. CCM Investment Advisers LLC’s holdings in QUALCOMM were worth $13,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Everhart Financial Group Inc. raised its stake in QUALCOMM by 67.2% in the first quarter. Everhart Financial Group Inc. now owns 4,646 shares of the wireless technology company’s stock valued at $714,000 after purchasing an additional 1,868 shares in the last quarter. Marshall Financial Group LLC lifted its holdings in shares of QUALCOMM by 0.6% during the 1st quarter. Marshall Financial Group LLC now owns 14,123 shares of the wireless technology company’s stock worth $2,169,000 after acquiring an additional 84 shares during the last quarter. Puff Wealth Management LLC bought a new stake in shares of QUALCOMM during the 1st quarter worth $206,000. Smithbridge Asset Management Inc. DE purchased a new position in QUALCOMM in the first quarter worth $10,403,000. Finally, Donald L. Hagan LLC increased its stake in QUALCOMM by 1.7% in the first quarter. Donald L. Hagan LLC now owns 9,461 shares of the wireless technology company’s stock valued at $1,453,000 after acquiring an additional 159 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’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 completion of the transaction, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 0.5%

Shares of NASDAQ:QCOM opened at $158.70 on Friday. The stock has a 50 day moving average of $145.25 and a 200 day moving average of $155.17. The company has a market cap of $174.25 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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 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 company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $2.44 EPS. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current 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 paid a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

A number of equities analysts recently commented on QCOM shares. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.