Financial Management Professionals Inc. Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Management Professionals Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,128 shares of the wireless technology company’s stock after purchasing an additional 215 shares during the quarter. Financial Management Professionals Inc.’s holdings in QUALCOMM were worth $173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $29,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on QCOM. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna lowered their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.88.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,064 shares of company stock worth $8,381,948 over the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.1%

Shares of QCOM stock opened at $149.05 on Thursday. The company has a market capitalization of $163.66 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company’s fifty day moving average price is $143.81 and its 200-day moving average price is $155.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for 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 business’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

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.