Clarius Group LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Clarius Group LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,951 shares of the wireless technology company’s stock after acquiring an additional 1,241 shares during the period. Clarius Group LLC’s holdings in QUALCOMM were worth $1,375,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.5%

Shares of QCOM opened at $154.46 on Wednesday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock’s 50-day moving average is $146.71 and its two-hundred day moving average is $155.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market cap of $169.60 billion, a PE ratio of 15.73, a P/E/G ratio of 1.75 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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 business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced 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 is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $190.28.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now owns 57,997 shares in the company, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were 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 ninety days, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by insiders.

QUALCOMM 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.