Wealthcare Advisory Partners LLC Buys 6,172 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wealthcare Advisory Partners LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 40.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,462 shares of the wireless technology company’s stock after acquiring an additional 6,172 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in QUALCOMM were worth $3,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Algert Global LLC bought a new stake in QUALCOMM in the third quarter worth approximately $545,000. O Shaughnessy Asset Management LLC increased its holdings in QUALCOMM by 29.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 47,384 shares of the wireless technology company’s stock worth $5,262,000 after purchasing an additional 10,728 shares in the last quarter. Mather Group LLC. increased its holdings in QUALCOMM by 1.4% in the third quarter. Mather Group LLC. now owns 18,424 shares of the wireless technology company’s stock worth $2,046,000 after purchasing an additional 255 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of QUALCOMM by 1.4% during the third quarter. Valley National Advisers Inc. now owns 6,922 shares of the wireless technology company’s stock valued at $769,000 after acquiring an additional 95 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of QUALCOMM by 22.7% during the third quarter. Synovus Financial Corp now owns 41,643 shares of the wireless technology company’s stock valued at $4,625,000 after acquiring an additional 7,716 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,206,875 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QCOM shares. HSBC boosted their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays boosted their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research boosted their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Susquehanna boosted their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Finally, Citigroup boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Stock Down 1.1 %

Shares of QCOM opened at $195.15 on Friday. The stock has a market capitalization of $217.79 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The business’s 50 day simple moving average is $194.32 and its 200-day simple moving average is $168.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

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. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio 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.