State of Wyoming Purchases 820 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

State of Wyoming grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,634 shares of the wireless technology company’s stock after purchasing an additional 820 shares during the period. State of Wyoming’s holdings in QUALCOMM were worth $865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, CoreFirst Bank & Trust bought a new position in QUALCOMM in the fourth quarter valued at about $33,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on QCOM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average price target of $192.08.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

QCOM opened at $152.50 on Friday. The stock has a 50-day moving average price of $145.94 and a 200-day moving average price of $156.84. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $167.45 billion, a P/E ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its 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 during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 EPS. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.33%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is 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.