Zhang Financial LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Zhang Financial LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,264 shares of the wireless technology company’s stock after buying an additional 96 shares during the period. Zhang Financial LLC’s holdings in QUALCOMM were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Morgan Stanley boosted its holdings in QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after purchasing an additional 438,660 shares during the period. Norges Bank purchased a new position in QUALCOMM in the fourth quarter valued at $2,507,978,000. Finally, Northern Trust Corp boosted its holdings in QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after purchasing an additional 415,398 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was 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 directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 689 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. In the last three months, insiders sold 70,074 shares of company stock worth $12,258,386. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on QCOM shares. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Piper Sandler lifted their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Bank of America lifted their price target on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, UBS Group lifted their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Price Performance

QCOM stock traded up $2.08 on Wednesday, reaching $202.93. The company had a trading volume of 11,157,750 shares, compared to its average volume of 8,640,197. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year 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 company’s fifty day moving average is $173.97 and its 200 day moving average is $154.04. The company has a market cap of $226.47 billion, a P/E ratio of 27.28, a PEG ratio of 2.45 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, research analysts forecast that QUALCOMM Incorporated will post 7.81 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 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.68%. QUALCOMM’s payout ratio is 43.01%.

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.