QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Valley National Advisers Inc.

Valley National Advisers Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,690 shares of the wireless technology company’s stock after buying an additional 315 shares during the period. Valley National Advisers Inc.’s holdings in QUALCOMM were worth $2,409,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the 4th quarter valued at about $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 0.2%

NASDAQ QCOM opened at $158.54 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company’s 50 day simple moving average is $149.44 and its 200 day simple moving average is $154.78. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a market capitalization of $174.08 billion, a P/E ratio of 16.14, a PEG ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

Analyst Ratings Changes

A number of research analysts have issued reports on QCOM shares. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Bank of America reduced their target price on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.