QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Net Worth Advisory Group

Net Worth Advisory Group increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,485 shares of the wireless technology company’s stock after buying an additional 105 shares during the quarter. Net Worth Advisory Group’s holdings in QUALCOMM were worth $689,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock opened at $159.48 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $144.67 and a 200-day simple moving average of $155.17. The stock has a market cap of $175.11 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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. 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 for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. 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 dividend yield of 2.23%. QUALCOMM’s dividend payout ratio is presently 36.25%.

Analysts Set New Price Targets

Several brokerages have recently commented on QCOM. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Citigroup cut their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and a consensus target price of $189.88.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 in the last ninety days. Insiders own 0.08% of the company’s stock.

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.