LongView Wealth Management Acquires Shares of 1,201 QUALCOMM Incorporated (NASDAQ:QCOM)

LongView Wealth Management acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,201 shares of the wireless technology company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Artemis Investment Management LLP increased its position in QUALCOMM by 89.7% during the 1st quarter. Artemis Investment Management LLP now owns 72,508 shares of the wireless technology company’s stock worth $12,269,000 after purchasing an additional 34,282 shares during the period. Fifth Third Wealth Advisors LLC increased its position in QUALCOMM by 10.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,277 shares of the wireless technology company’s stock worth $555,000 after purchasing an additional 319 shares during the period. Jessup Wealth Management Inc increased its position in QUALCOMM by 2,766.6% during the 1st quarter. Jessup Wealth Management Inc now owns 48,216 shares of the wireless technology company’s stock worth $8,163,000 after purchasing an additional 46,534 shares during the period. Transform Wealth LLC increased its position in QUALCOMM by 2.3% during the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after purchasing an additional 66 shares during the period. Finally, Lincoln Capital Corp acquired a new position in QUALCOMM during the 1st quarter worth approximately $2,763,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on QCOM. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target on the stock. JPMorgan Chase & Co. upped their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Robert W. Baird upped their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Piper Sandler upped their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, HSBC upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. 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. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The sale 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 dated Monday, April 1st. The stock was 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 $44,068,735.11. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.1 %

Shares of NASDAQ QCOM opened at $199.18 on Friday. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market cap of $222.28 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.37 and a beta of 1.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $195.82 and a 200 day moving average price of $169.22.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS 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 $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 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.