QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Wimmer Associates 1 LLC

Wimmer Associates 1 LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 28.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,062 shares of the wireless technology company’s stock after acquiring an additional 451 shares during the quarter. Wimmer Associates 1 LLC’s holdings in QUALCOMM were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $207,000. Merit Financial Group LLC boosted its holdings in QUALCOMM by 40.4% in the fourth quarter. Merit Financial Group LLC now owns 22,889 shares of the wireless technology company’s stock valued at $3,516,000 after purchasing an additional 6,591 shares during the period. Sax Wealth Advisors LLC boosted its holdings in QUALCOMM by 43.7% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,776 shares of the wireless technology company’s stock valued at $273,000 after purchasing an additional 540 shares during the period. Integrated Investment Consultants LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $227,000. Finally, HB Wealth Management LLC increased its position in shares of QUALCOMM by 17.3% during the fourth quarter. HB Wealth Management LLC now owns 31,426 shares of the wireless technology company’s stock worth $4,828,000 after purchasing an additional 4,626 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.1%

Shares of QUALCOMM stock opened at $152.50 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $145.94 and a 200 day moving average price of $156.80. The stock has a market cap of $167.45 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month 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 company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 EPS. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on QCOM shares. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $192.08.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is currently owned by corporate 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.