Shepherd Financial Partners LLC Buys 343 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Shepherd Financial Partners LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% in the 1st quarter, Holdings Channel reports. The fund owned 12,374 shares of the wireless technology company’s stock after buying an additional 343 shares during the quarter. Shepherd Financial Partners LLC’s holdings in QUALCOMM were worth $1,901,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Teza Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $303,000. Amundi lifted its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. First Foundation Advisors boosted its stake in shares of QUALCOMM by 41.2% in the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after purchasing an additional 45,769 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of QUALCOMM by 42.2% in the 1st quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company’s stock valued at $162,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred 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. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $154.46 on Wednesday. The company has a 50-day simple moving average of $146.71 and a two-hundred day simple moving average of $155.12. 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 firm has a market capitalization of $169.60 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released 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 company 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%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 earnings per share. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup decreased their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $190.28.

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.