Hubbell Strickland Wealth Management LLC Makes New $200,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Hubbell Strickland Wealth Management LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, Holdings Channel reports. The fund purchased 1,302 shares of the wireless technology company’s stock, valued at approximately $200,000.

A number of other institutional investors also recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction 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 $7,568,140.80. This trade represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.5%

QCOM stock opened at $151.32 on Friday. The company has a market cap of $166.15 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.98 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $215.47. The firm has a 50-day moving average of $147.54 and a two-hundred day moving average of $154.97.

QUALCOMM (NASDAQ:QCOM) last released 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. 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 26.11% and a return on equity of 40.11%. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Wells Fargo & Company cut 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. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Bank of America cut their target price on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $190.28.

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.