Alpine Bank Wealth Management Purchases New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alpine Bank Wealth Management purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 972 shares of the wireless technology company’s stock, valued at approximately $149,000.

A number of other hedge funds also recently modified their holdings of QCOM. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter worth about $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $30,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Benchmark cut their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Up 0.1%

NASDAQ QCOM opened at $155.93 on Thursday. The stock has a market capitalization of $171.21 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a fifty day moving average of $148.57 and a 200-day moving average of $154.84.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm 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 dividend of $0.89 per share. 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 2.28%. QUALCOMM’s payout ratio is currently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the transaction, the chief financial officer now owns 53,112 shares of the company’s stock, valued at approximately $7,423,464.24. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was 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 sold a total of 423,464 shares of company stock valued at $8,135,164 over 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.