Compass Capital Management Inc. Purchases 5,998 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Compass Capital Management Inc. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 360,993 shares of the wireless technology company’s stock after purchasing an additional 5,998 shares during the quarter. QUALCOMM comprises approximately 3.6% of Compass Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Compass Capital Management Inc.’s holdings in QUALCOMM were worth $55,452,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter valued at $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $29,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $154.72 on Friday. The firm has a 50 day moving average price of $145.85 and a 200-day moving average price of $155.15. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The firm has a market capitalization of $169.88 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. 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 results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during 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 firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 earnings per share. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The stock was 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 directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock valued at $8,135,164 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent research reports. Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. One equities 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $189.88.

About QUALCOMM

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.