DLK Investment Management LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

DLK Investment Management LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,926 shares of the wireless technology company’s stock after buying an additional 895 shares during the quarter. DLK Investment Management LLC’s holdings in QUALCOMM were worth $3,829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of QCOM. Baugh & Associates LLC increased its position in QUALCOMM by 20.7% during the first quarter. Baugh & Associates LLC now owns 32,364 shares of the wireless technology company’s stock valued at $4,741,000 after acquiring an additional 5,542 shares during the last quarter. Balefire LLC lifted its stake in QUALCOMM by 36.2% in the first quarter. Balefire LLC now owns 2,365 shares of the wireless technology company’s stock worth $363,000 after purchasing an additional 629 shares during the last quarter. KPP Advisory Services LLC boosted its position in shares of QUALCOMM by 234.0% during the first quarter. KPP Advisory Services LLC now owns 4,592 shares of the wireless technology company’s stock valued at $705,000 after buying an additional 3,217 shares during the period. LifeSteps Financial Inc. grew its stake in shares of QUALCOMM by 3.3% during the first quarter. LifeSteps Financial Inc. now owns 3,395 shares of the wireless technology company’s stock valued at $522,000 after buying an additional 107 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of QUALCOMM by 3.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 2,171 shares of the wireless technology company’s stock worth $334,000 after acquiring an additional 75 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.1%

Shares of QCOM stock opened at $155.93 on Thursday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a market cap of $171.21 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a 50 day simple moving average of $148.57 and a 200-day simple moving average of $154.84.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

Several research firms recently commented on QCOM. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Bank of America cut their price target on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $186.96.

Insider Activity at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the sale, the chief financial officer now owns 57,997 shares of the company’s stock, 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. In the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by corporate insiders.

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.