Revolve Wealth Partners LLC Boosts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Revolve Wealth Partners LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 50.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,305 shares of the wireless technology company’s stock after acquiring an additional 777 shares during the quarter. Revolve Wealth Partners LLC’s holdings in QUALCOMM were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Aspiriant LLC boosted its holdings in QUALCOMM by 25.0% during the 1st quarter. Aspiriant LLC now owns 17,470 shares of the wireless technology company’s stock worth $2,958,000 after acquiring an additional 3,490 shares during the last quarter. TrueMark Investments LLC raised its stake in shares of QUALCOMM by 24.7% during the 1st quarter. TrueMark Investments LLC now owns 20,024 shares of the wireless technology company’s stock worth $3,390,000 after purchasing an additional 3,960 shares during the period. Sovereign Financial Group Inc. bought a new stake in shares of QUALCOMM during the 1st quarter worth $688,000. RMR Wealth Builders raised its stake in shares of QUALCOMM by 52.0% during the 1st quarter. RMR Wealth Builders now owns 8,983 shares of the wireless technology company’s stock worth $1,521,000 after purchasing an additional 3,072 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in shares of QUALCOMM by 5.7% during the 1st quarter. Sunbelt Securities Inc. now owns 15,677 shares of the wireless technology company’s stock worth $2,654,000 after purchasing an additional 852 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. KeyCorp lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Mizuho lifted their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Barclays boosted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Susquehanna boosted their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. 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’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Stock Down 2.4 %

Shares of NASDAQ QCOM opened at $197.33 on Thursday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $220.22 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.46 and a beta of 1.30. The business has a 50-day moving average of $193.66 and a 200-day moving average of $168.40.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 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 company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is a positive change 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 1.72%. QUALCOMM’s payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Company 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.