RMR Wealth Builders Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

RMR Wealth Builders increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,465 shares of the wireless technology company’s stock after acquiring an additional 1,292 shares during the quarter. RMR Wealth Builders’ holdings in QUALCOMM were worth $1,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Strategies LLC increased its position in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. grew its holdings in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in shares of QUALCOMM by 0.9% during the fourth 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 boosted its stake in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted its stake in 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 buying an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $158.70 on Friday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $174.25 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.01 and a beta of 1.26. The stock’s fifty day moving average is $145.25 and its two-hundred day moving average is $155.17.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities 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 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 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is currently 36.25%.

Analysts Set New Price Targets

Several brokerages have weighed in on QCOM. Susquehanna lowered their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Evercore ISI decreased their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Benchmark decreased 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. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock 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.