QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by RFG Advisory LLC

RFG Advisory LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 19,864 shares of the wireless technology company’s stock after purchasing an additional 696 shares during the quarter. RFG Advisory LLC’s holdings in QUALCOMM were worth $3,363,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its position in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at $32,000. Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in QUALCOMM during the 4th quarter worth $35,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction 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. Insiders sold a total of 45,185 shares of company stock valued at $8,206,875 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wolfe Research boosted their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Canaccord Genuity Group raised their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TD Cowen raised their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Evercore ISI assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

QUALCOMM Trading Down 1.4 %

QUALCOMM stock opened at $212.53 on Friday. The firm has a market capitalization of $237.18 billion, a price-to-earnings ratio of 28.57, a P/E/G ratio of 2.62 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a 50 day moving average price of $192.36 and a 200 day moving average price of $167.17.

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

QUALCOMM Increases Dividend

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

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.