Omnia Family Wealth LLC Buys 538 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Omnia Family Wealth LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 24.4% in the 1st quarter, Holdings Channel reports. The firm owned 2,742 shares of the wireless technology company’s stock after buying an additional 538 shares during the period. Omnia Family Wealth LLC’s holdings in QUALCOMM were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter worth $26,000. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the first quarter worth $27,000. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the fourth quarter valued at about $30,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 423,464 shares of company stock worth $8,135,164. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities reaffirmed a “buy” rating and set 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. Finally, Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $186.96.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $155.93 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The business has a 50-day moving average price of $148.57 and a 200-day moving average price of $154.84. The firm has a market cap of $171.21 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

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

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.28%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

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.