LRI Investments LLC Buys New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

LRI Investments LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,823 shares of the wireless technology company’s stock, valued at approximately $336,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Grandview Asset Management LLC boosted its holdings in QUALCOMM by 2.3% in the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. boosted its holdings in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the period. VERITY Wealth Advisors boosted its holdings in QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the period. SlateStone Wealth LLC boosted its holdings in QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after purchasing an additional 65 shares during the period. Finally, Verus Capital Partners LLC lifted its holdings in shares of QUALCOMM by 1.4% during the 1st quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock worth $774,000 after acquiring an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,552,835 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. Bank of America raised their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. KeyCorp raised their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Canaccord Genuity Group raised their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Cantor Fitzgerald raised their price objective on shares of QUALCOMM from $190.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Argus increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

QUALCOMM Trading Up 2.7 %

QUALCOMM stock traded up $4.66 during midday trading on Friday, hitting $180.05. 6,567,842 shares of the stock were exchanged, compared to its average volume of 8,034,185. The company has a fifty day simple moving average of $204.19 and a two-hundred day simple moving average of $177.26. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market capitalization of $200.94 billion, a PE ratio of 24.20, a P/E/G ratio of 2.13 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating 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 anticipate that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.