LVW Advisors LLC Buys New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

LVW Advisors LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,187 shares of the wireless technology company’s stock, valued at approximately $370,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peoples Bank OH bought a new stake in QUALCOMM during the fourth quarter valued at about $219,000. Bank Hapoalim BM increased its holdings in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC increased its holdings in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the last quarter. 1834 Investment Advisors Co. increased its holdings in shares of QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth about $305,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

NASDAQ QCOM opened at $199.18 on Monday. 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 stock’s fifty day moving average price is $195.82 and its 200 day moving average price is $169.67. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a market cap of $222.28 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its 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 for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, 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 filing with the SEC, which is available at this hyperlink. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. 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 ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on QCOM. Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Robert W. Baird lifted their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. TD Cowen boosted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Wolfe Research boosted their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.13.

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.