Veracity Capital LLC Has $480,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Veracity Capital LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,834 shares of the wireless technology company’s stock after purchasing an additional 234 shares during the period. Veracity Capital LLC’s holdings in QUALCOMM were worth $480,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. boosted its position in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. boosted its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the 4th quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC boosted its position in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $203.81 on Friday. 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 stock’s 50-day simple moving average is $199.01 and its 200 day simple moving average is $170.94. The company has a market cap of $227.45 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.48 and a beta of 1.27. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. KeyCorp raised their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Benchmark restated a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, Wolfe Research raised their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $192.13.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred 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 transaction, the director now 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 is available through this link. In other news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at $1,185,947.88. 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 that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold a total of 42,185 shares of company stock valued at $7,936,005 over the last 90 days. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.