First Pacific Financial Has $55,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First Pacific Financial increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 78.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 357 shares of the wireless technology company’s stock after purchasing an additional 157 shares during the period. First Pacific Financial’s holdings in QUALCOMM were worth $55,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its position in QUALCOMM by 10.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after acquiring an additional 300 shares during the period. Brighton Jones LLC raised its position in shares of QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after buying an additional 340 shares during the period. BankPlus Trust Department bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $47,000. Finally, Delta Financial Advisors LLC grew its position in QUALCOMM by 8.8% during the fourth quarter. Delta Financial Advisors LLC now owns 3,506 shares of the wireless technology company’s stock worth $539,000 after buying an additional 285 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s 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 quarter, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $155.93 on Thursday. The business’s 50-day simple moving average is $148.57 and its 200 day simple moving average is $154.84. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The stock has a market cap of $171.21 billion, a price-to-earnings ratio of 15.88, a P/E/G 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 $211.09.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the business posted $2.44 earnings per share. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.28%. QUALCOMM’s payout ratio is 36.25%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on QCOM shares. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Bank of America lowered their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, June 17th. Finally, Loop Capital dropped their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $186.96.

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.