Everhart Financial Group Inc. Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Everhart Financial Group Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 67.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,646 shares of the wireless technology company’s stock after buying an additional 1,868 shares during the period. Everhart Financial Group Inc.’s holdings in QUALCOMM were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Vanguard Group Inc. boosted its stake in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank purchased a new position in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi lifted its stake in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 2.5%

Shares of QCOM stock opened at $154.72 on Friday. The stock has a market cap of $169.88 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The business has a fifty day simple moving average of $145.85 and a 200-day simple moving average of $155.15.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm posted $2.44 EPS. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal 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 given a dividend of $0.89 per share. 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%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

Analysts Set New Price Targets

QCOM has been the topic of several recent research reports. Evercore ISI dropped their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Citigroup cut their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Finally, Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average target price of $189.88.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now directly owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last ninety days. 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.