Koss Olinger Consulting LLC Takes $1.48 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Koss Olinger Consulting LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,712 shares of the wireless technology company’s stock, valued at approximately $1,475,000.

A number of other institutional investors have also modified their holdings of the company. Algert Global LLC acquired a new stake in QUALCOMM in the 3rd quarter worth approximately $545,000. Rehmann Capital Advisory Group boosted its stake in QUALCOMM by 3.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,312 shares of the wireless technology company’s stock worth $1,145,000 after purchasing an additional 361 shares in the last quarter. Logan Capital Management Inc. boosted its stake in QUALCOMM by 20.2% in the 3rd quarter. Logan Capital Management Inc. now owns 7,451 shares of the wireless technology company’s stock worth $828,000 after purchasing an additional 1,252 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in QUALCOMM by 13.5% in the 3rd quarter. Insigneo Advisory Services LLC now owns 7,017 shares of the wireless technology company’s stock worth $779,000 after purchasing an additional 836 shares in the last quarter. Finally, Becker Capital Management Inc. lifted its stake in QUALCOMM by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 298,936 shares of the wireless technology company’s stock valued at $33,200,000 after acquiring an additional 14,171 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $199.18 on Monday. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a fifty day moving average of $195.82 and a 200 day moving average of $169.67. The firm has a market cap of $222.28 billion, a PE ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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 net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. As a group, research analysts predict 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. Shareholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analyst Weigh In

Several analysts have commented on QCOM shares. KeyCorp lifted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Barclays lifted their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Tigress Financial lifted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Morgan Stanley lifted their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $192.13.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold a total of 37,185 shares of company stock valued at $6,860,715 in the last 90 days. 0.08% of the stock is owned by 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.