Apella Capital LLC Acquires 326 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Apella Capital LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,057 shares of the wireless technology company’s stock after purchasing an additional 326 shares during the quarter. Apella Capital LLC’s holdings in QUALCOMM were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC increased its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. raised its holdings in QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD lifted its position in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after buying an additional 1,090,504 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 1.4 %

NASDAQ:QCOM opened at $212.53 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market capitalization of $237.18 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.62 and a beta of 1.30. The company’s 50-day simple moving average is $192.36 and its 200-day simple moving average is $166.92. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.60%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,185 shares of company stock worth $8,206,875. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday. HSBC upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, KeyCorp upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

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.