Northwest Investment Counselors LLC Invests $116,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Northwest Investment Counselors LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 683 shares of the wireless technology company’s stock, valued at approximately $116,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. raised its stake in shares of 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 acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in shares of 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 acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM in the 4th quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC raised its stake in shares of 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 acquiring an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at approximately $35,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent analyst reports. KeyCorp raised their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group raised their target price on 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 assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Price Performance

Shares of QCOM stock opened at $200.84 on Tuesday. The stock’s fifty day simple moving average is $192.98 and its 200 day simple moving average is $167.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a market cap of $224.14 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.59 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, analysts expect that QUALCOMM Incorporated will post 7.83 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. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This is an increase 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 1.69%. QUALCOMM’s payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of QUALCOMM 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 completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of QUALCOMM 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 completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock worth $8,206,875. 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.