Fragasso Group Inc. Buys 82 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fragasso Group Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,652 shares of the wireless technology company’s stock after acquiring an additional 82 shares during the quarter. Fragasso Group Inc.’s holdings in QUALCOMM were worth $957,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Peoples Bank OH bought a new position in QUALCOMM in the 4th quarter valued at approximately $219,000. Bank Hapoalim BM lifted its holdings in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC boosted its position in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares during the last quarter. 1834 Investment Advisors Co. increased its holdings in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. purchased a new position in QUALCOMM in the 4th quarter worth about $305,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QCOM. Bank of America raised their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. 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. Morgan Stanley lifted their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, Argus raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. One 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, the company has an average rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 744 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 1.4 %

Shares of QUALCOMM stock opened at $212.53 on Friday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $192.36 and a 200-day moving average price of $166.92. The firm has a market cap of $237.18 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.62 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

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.