QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by First Pacific Financial

First Pacific Financial increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 78.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357 shares of the wireless technology company’s stock after acquiring an additional 157 shares during the period. First Pacific Financial’s holdings in QUALCOMM were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Eagle Strategies LLC increased its position in shares of QUALCOMM by 4.3% during the 4th 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 period. Clark Capital Management Group Inc. grew its holdings in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after acquiring an additional 59 shares during the period. PDS Planning Inc grew its holdings in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after acquiring an additional 64 shares during the period. Cassady Schiller Wealth Management LLC raised its position 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 worth $73,000 after acquiring an additional 65 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. lifted its holdings in QUALCOMM by 2.9% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company’s stock valued at $371,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.1%

QUALCOMM stock opened at $155.93 on Thursday. 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 Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company’s fifty day simple moving average is $148.57 and its 200-day simple moving average is $154.84. The stock has a market cap of $171.21 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued 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 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS 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 given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.28%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $186.96.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was 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 in the company, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were 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 in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock worth $8,135,164 in the last 90 days. 0.08% of the stock is owned by 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.