SOL Capital Management CO Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

SOL Capital Management CO boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,110 shares of the wireless technology company’s stock after acquiring an additional 780 shares during the quarter. SOL Capital Management CO’s holdings in QUALCOMM were worth $2,321,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Eagle Strategies LLC raised its position in 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 acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after purchasing an additional 59 shares during the period. PDS Planning Inc grew its holdings in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after purchasing an additional 64 shares during the period. Cassady Schiller Wealth Management LLC grew its holdings 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 valued at $73,000 after purchasing an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. grew its holdings in QUALCOMM by 2.9% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company’s stock valued at $371,000 after purchasing an additional 67 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $155.93 on Thursday. The stock’s fifty day moving average is $148.57 and its two-hundred day moving average is $154.84. The firm has a market capitalization of $171.21 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 earnings per share. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

Several analysts have commented on QCOM shares. Benchmark dropped their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, Loop Capital dropped their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $186.96.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares of the company’s stock, valued at $7,661,403.70. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last quarter. Insiders own 0.08% of the company’s stock.

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.