R.H. Dinel Investment Counsel Inc. Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

R.H. Dinel Investment Counsel Inc. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,475 shares of the wireless technology company’s stock after selling 900 shares during the quarter. QUALCOMM comprises about 6.2% of R.H. Dinel Investment Counsel Inc.’s investment portfolio, making the stock its 4th biggest position. R.H. Dinel Investment Counsel Inc.’s holdings in QUALCOMM were worth $9,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. boosted its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC boosted its position in shares of 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 in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $35,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 2.1 %

QUALCOMM stock opened at $199.18 on Friday. The stock has a market capitalization of $222.28 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. 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 company has a 50 day moving average of $195.82 and a 200-day moving average of $169.22.

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 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 analysts’ expectations of $9.32 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced 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 is a boost 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 yield of 1.71%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QCOM. Tigress Financial lifted their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. KeyCorp lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Citigroup lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is owned by insiders.

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.