Simplicity Wealth LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Simplicity Wealth LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 282.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,592 shares of the wireless technology company’s stock after purchasing an additional 7,822 shares during the period. Simplicity Wealth LLC’s holdings in QUALCOMM were worth $1,627,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Eagle Strategies LLC increased its stake in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC increased its stake in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc increased its stake in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after purchasing an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its stake in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after purchasing an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on QCOM. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $189.88.

QUALCOMM Price Performance

QUALCOMM stock opened at $159.13 on Wednesday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business has a fifty day moving average of $144.03 and a two-hundred day moving average of $155.14. The company has a market cap of $174.72 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the transaction, the chief financial officer now owns 49,779 shares of the company’s stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by company insiders.

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.