MB Levis & Associates LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

MB Levis & Associates LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,242 shares of the wireless technology company’s stock after purchasing an additional 261 shares during the period. QUALCOMM makes up approximately 0.9% of MB Levis & Associates LLC’s holdings, making the stock its 21st largest position. MB Levis & Associates LLC’s holdings in QUALCOMM were worth $1,880,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in QCOM. Brighton Jones LLC boosted its stake in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after buying an additional 340 shares during the last quarter. Clearbridge Investments LLC increased its holdings in QUALCOMM by 3.1% in the 4th quarter. Clearbridge Investments LLC now owns 177,954 shares of the wireless technology company’s stock worth $27,337,000 after buying an additional 5,348 shares in the last quarter. FSB Premier Wealth Management Inc. raised its position in QUALCOMM by 13.1% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 3,839 shares of the wireless technology company’s stock worth $590,000 after buying an additional 444 shares during the last quarter. Finally, AIA Group Ltd lifted its stake in QUALCOMM by 27.8% during the 4th quarter. AIA Group Ltd now owns 25,400 shares of the wireless technology company’s stock valued at $3,902,000 after acquiring an additional 5,520 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. 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 note on Wednesday, April 9th. Wall Street Zen raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average target price of $183.95.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on 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. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $161.05 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.64. The business has a 50 day simple moving average of $154.74 and a two-hundred day simple moving average of $155.00. The stock has a market capitalization of $176.83 billion, a PE ratio of 16.40, a P/E/G ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the firm posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.21%. QUALCOMM’s dividend payout ratio is currently 36.25%.

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.