Rosenberg Matthew Hamilton Acquires 229 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Rosenberg Matthew Hamilton boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,662 shares of the wireless technology company’s stock after acquiring an additional 229 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in QUALCOMM were worth $255,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Eagle Strategies LLC increased its holdings in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. grew its position 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 during the last quarter. PDS Planning Inc increased its stake in shares of QUALCOMM by 1.6% in the fourth 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 during the period. Cassady Schiller Wealth Management LLC raised its position in shares of QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after acquiring an additional 65 shares during the last quarter. Finally, Umpqua Bank lifted its stake in shares of QUALCOMM by 4.2% in the fourth quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company’s stock worth $264,000 after acquiring an additional 67 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 1.8%

Shares of NASDAQ QCOM opened at $162.32 on Thursday. 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 has a 50-day moving average price of $150.75 and a 200-day moving average price of $154.87. The stock has a market capitalization of $178.23 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. On average, equities research analysts forecast 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 was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a dividend of $0.89 per share. This is a boost 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 2.19%. QUALCOMM’s payout ratio is presently 36.25%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $186.96.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 426,797 shares of company stock worth $8,672,710. 0.08% of the stock is owned by corporate insiders.

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.