Falcon Wealth Planning Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Falcon Wealth Planning lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 3,498 shares of the wireless technology company’s stock after purchasing an additional 128 shares during the period. Falcon Wealth Planning’s holdings in QUALCOMM were worth $537,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Norges Bank bought a new stake in QUALCOMM in the 4th quarter worth approximately $2,721,882,000. Amundi grew its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. bought a new stake in QUALCOMM in the fourth quarter worth $527,053,000. GAMMA Investing LLC raised its stake in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp lifted its position in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

NASDAQ QCOM opened at $158.19 on Friday. The company has a market cap of $173.69 billion, a PE ratio of 16.11, a P/E/G 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 firm’s 50 day moving average price is $149.00 and its 200-day moving average price is $154.82.

QUALCOMM (NASDAQ:QCOM) last issued 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. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were 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 was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. QUALCOMM’s dividend payout ratio is presently 36.25%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average target price of $186.96.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company’s stock, 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. Over the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by insiders.

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.