QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Principle Wealth Partners LLC

Principle Wealth Partners LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,825 shares of the wireless technology company’s stock after buying an additional 1,050 shares during the period. Principle Wealth Partners LLC’s holdings in QUALCOMM were worth $6,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. Eagle Strategies LLC boosted its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. boosted its holdings in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of QUALCOMM by 2.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company’s stock valued at $509,000 after buying an additional 69 shares during the period. Atlantic Edge Private Wealth Management LLC increased its position in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the period. Finally, Circle Wealth Management LLC increased its position in QUALCOMM by 1.0% during the 4th quarter. Circle Wealth Management LLC now owns 7,176 shares of the wireless technology company’s stock valued at $1,102,000 after purchasing an additional 74 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated 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 SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,310,735 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 several research reports. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Citigroup reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average target price of $184.86.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $1.47 during mid-day trading on Thursday, hitting $158.42. The company’s stock had a trading volume of 926,266 shares, compared to its average volume of 8,334,044. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.64. 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 $173.94 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.04 and a beta of 1.26. The business’s fifty day moving average is $154.35 and its two-hundred day moving average is $155.05.

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, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM’s dividend payout ratio is currently 36.25%.

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.