Barlow Wealth Partners Inc. Invests $201,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Barlow Wealth Partners Inc. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,350 shares of the wireless technology company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton increased its position in shares of QUALCOMM by 16.0% during the first quarter. Rosenberg Matthew Hamilton now owns 1,662 shares of the wireless technology company’s stock valued at $255,000 after acquiring an additional 229 shares during the last quarter. Mutual Advisors LLC boosted its position in shares of QUALCOMM by 8.8% during the 1st quarter. Mutual Advisors LLC now owns 33,760 shares of the wireless technology company’s stock worth $5,015,000 after purchasing an additional 2,720 shares during the period. Clarity Capital Partners LLC increased its holdings in QUALCOMM by 18.5% in the 1st quarter. Clarity Capital Partners LLC now owns 6,855 shares of the wireless technology company’s stock valued at $1,053,000 after purchasing an additional 1,069 shares during the last quarter. Clark Asset Management LLC acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $204,000. Finally, Smart Money Group LLC purchased a new stake in QUALCOMM in the first quarter valued at approximately $737,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $162.32 on Thursday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market cap of $178.23 billion, a P/E ratio of 16.53, a PEG ratio of 2.06 and a beta of 1.26. The firm has a fifty day moving average price of $150.75 and a 200 day moving average price of $154.87.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the prior year, the firm posted $2.44 EPS. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.19%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM’s dividend payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the sale, the chief financial officer owned 53,112 shares of the company’s stock, valued at $7,423,464.24. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 426,797 shares of company stock worth $8,672,710 over the last three months. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. 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 stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $186.96.

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.