Vermillion Wealth Management Inc. Buys New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Vermillion Wealth Management Inc. bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 940 shares of the wireless technology company’s stock, valued at approximately $144,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Forum Financial Management LP raised its stake in QUALCOMM by 20.6% during the 4th quarter. Forum Financial Management LP now owns 7,417 shares of the wireless technology company’s stock valued at $1,139,000 after purchasing an additional 1,265 shares during the period. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $29,000. Kingstone Capital Partners Texas LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $1,414,000. Blue Sky Capital Consultants Group Inc. bought a new stake in QUALCOMM during the 4th quarter valued at approximately $674,000. Finally, Warm Springs Advisors Inc. bought a new stake in QUALCOMM during the 4th quarter valued at approximately $1,109,000. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the transaction, the chief financial officer now directly owns 53,112 shares of the company’s stock, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,568 shares of company stock valued at $1,818,305. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.4%

Shares of NASDAQ QCOM opened at $145.38 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $145.46 and a two-hundred day simple moving average of $156.29. The firm has a market cap of $159.63 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average price target of $192.08.

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.