1900 Wealth Management LLC Has $348,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

1900 Wealth Management LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 39.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,056 shares of the wireless technology company’s stock after selling 1,361 shares during the quarter. 1900 Wealth Management LLC’s holdings in QUALCOMM were worth $348,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Peoples Bank OH acquired a new position in QUALCOMM in the 4th quarter worth $219,000. Bank Hapoalim BM raised its position in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the last quarter. NewEdge Wealth LLC lifted its stake in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. boosted its position in QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after acquiring an additional 2,818 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $305,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group increased their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. HSBC raised their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Argus upped their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Piper Sandler increased their price target on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Wolfe Research boosted their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,074 shares of company stock worth $12,258,386. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.08 on Wednesday, hitting $202.93. The company’s stock had a trading volume of 11,157,750 shares, compared to its average volume of 8,640,197. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $204.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock’s 50 day moving average is $173.97 and its 200-day moving average is $154.04. The company has a market capitalization of $226.47 billion, a PE ratio of 27.28, a PEG ratio of 2.45 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.81 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is 43.01%.

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.