Retirement Guys Formula LLC Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Retirement Guys Formula LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, Holdings Channel reports. The fund acquired 9,706 shares of the wireless technology company’s stock, valued at approximately $1,479,000.

Several other institutional investors and hedge funds also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the first quarter worth about $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the transaction, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on QCOM shares. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital decreased their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $186.96.

QUALCOMM Stock Up 1.2%

QCOM opened at $153.14 on Tuesday. The company’s 50-day moving average price is $147.82 and its two-hundred day moving average price is $154.83. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The stock has a market cap of $168.15 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.95 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.32%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is 36.25%.

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.