QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by DLK Investment Management LLC

DLK Investment Management LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 24,926 shares of the wireless technology company’s stock after acquiring an additional 895 shares during the period. DLK Investment Management LLC’s holdings in QUALCOMM were worth $3,829,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter valued at approximately $26,000. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter worth $27,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.1%

NASDAQ QCOM opened at $155.93 on Thursday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The firm has a 50-day moving average price of $148.57 and a 200 day moving average price of $154.84. The stock has a market capitalization of $171.21 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period last year, the firm earned $2.44 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS 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 $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.28%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on QCOM shares. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Benchmark lowered their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Finally, Bank of America reduced their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $186.96.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was 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 can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company’s stock.

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.