Wahed Invest LLC Acquires 1,127 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wahed Invest LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,054 shares of the wireless technology company’s stock after acquiring an additional 1,127 shares during the quarter. QUALCOMM comprises 0.7% of Wahed Invest LLC’s portfolio, making the stock its 26th biggest holding. Wahed Invest LLC’s holdings in QUALCOMM were worth $4,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM in the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $135.21 on Friday. The firm has a fifty day simple moving average of $148.16 and a 200 day simple moving average of $158.76. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a market capitalization of $149.54 billion, a PE ratio of 14.45, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.63%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $194.11.

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.