Towerpoint Wealth LLC Acquires 391 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Towerpoint Wealth LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,946 shares of the wireless technology company’s stock after purchasing an additional 391 shares during the quarter. Towerpoint Wealth LLC’s holdings in QUALCOMM were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Algert Global LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $545,000. O Shaughnessy Asset Management LLC lifted its stake in QUALCOMM by 29.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 47,384 shares of the wireless technology company’s stock valued at $5,262,000 after acquiring an additional 10,728 shares during the period. Mather Group LLC. boosted its holdings in shares of QUALCOMM by 1.4% in the 3rd quarter. Mather Group LLC. now owns 18,424 shares of the wireless technology company’s stock valued at $2,046,000 after acquiring an additional 255 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of QUALCOMM by 43.0% in the third quarter. Vinva Investment Management Ltd now owns 32,429 shares of the wireless technology company’s stock worth $3,603,000 after acquiring an additional 9,755 shares during the period. Finally, Valley National Advisers Inc. raised its holdings in shares of QUALCOMM by 1.4% during the third quarter. Valley National Advisers Inc. now owns 6,922 shares of the wireless technology company’s stock worth $769,000 after purchasing an additional 95 shares during the last quarter. 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, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were 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 directly owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock worth $8,206,875 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Mizuho raised their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Citigroup upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. KeyCorp lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. TD Cowen lifted their price objective on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Down 1.1 %

NASDAQ QCOM traded down $2.18 during trading hours on Thursday, hitting $195.15. 11,912,951 shares of the company traded hands, compared to its average volume of 9,320,610. The stock has a market capitalization of $217.79 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.30. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The business’s 50-day moving average is $194.32 and its 200-day moving average is $168.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

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.