Crestmont Private Wealth LLC Buys 817 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Crestmont Private Wealth LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 34.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,184 shares of the wireless technology company’s stock after buying an additional 817 shares during the period. Crestmont Private Wealth LLC’s holdings in QUALCOMM were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter worth $30,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 1.0%

Shares of NASDAQ:QCOM opened at $146.63 on Tuesday. The company has a fifty day moving average of $144.06 and a 200-day moving average of $155.43. The company has a market capitalization of $161.00 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.43%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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 425,064 shares of company stock worth $8,381,948 over the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average target price of $189.88.

QUALCOMM Company Profile

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.