Aspetuck Financial Management LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Aspetuck Financial Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, HoldingsChannel.com reports. The firm bought 9,705 shares of the wireless technology company’s stock, valued at approximately $1,491,000. QUALCOMM makes up approximately 1.3% of Aspetuck Financial Management LLC’s investment portfolio, making the stock its 29th largest holding.

Several other large investors have also modified their holdings of the stock. Eagle Strategies LLC boosted its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after buying an additional 59 shares in the last quarter. Clark Capital Management Group Inc. boosted its holdings in shares of QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after buying an additional 59 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after buying an additional 64 shares in the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after buying an additional 65 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its holdings in shares of 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 buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $186.96.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Up 0.1%

Shares of QUALCOMM stock opened at $155.93 on Thursday. The company has a market cap of $171.21 billion, a P/E ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The firm has a fifty day moving average of $148.57 and a two-hundred day moving average of $154.84.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders 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 dividend yield of 2.28%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

QUALCOMM 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.