Cypress Capital LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cypress Capital LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,293 shares of the wireless technology company’s stock after buying an additional 455 shares during the period. Cypress Capital LLC’s holdings in QUALCOMM were worth $2,349,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LaFleur & Godfrey LLC boosted its position in shares of QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock valued at $480,000 after purchasing an additional 300 shares during the period. Brighton Jones LLC lifted its stake in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares during the period. SVB Wealth LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $1,974,000. Finally, Smartleaf Asset Management LLC grew its position in shares of QUALCOMM by 24.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,784 shares of the wireless technology company’s stock worth $1,512,000 after acquiring an additional 1,936 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM opened at $159.26 on Tuesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The stock has a market cap of $174.87 billion, a P/E ratio of 16.22, a PEG ratio of 2.05 and a beta of 1.26. 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 50-day moving average of $149.90 and a two-hundred day moving average of $154.78.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a dividend of $0.89 per share. This is an increase 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 annualized dividend and a dividend yield of 2.24%. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer directly owned 49,779 shares in the company, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on QCOM. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.