Hexagon Capital Partners LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Hexagon Capital Partners LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,959 shares of the wireless technology company’s stock after selling 146 shares during the period. Hexagon Capital Partners LLC’s holdings in QUALCOMM were worth $332,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% during the fourth 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 in the last quarter. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM during the 4th quarter worth $32,000. Cherry Tree Wealth Management LLC increased its holdings 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 purchasing an additional 115 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. raised its position in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $200.03 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a fifty day moving average of $195.82 and a 200-day moving average of $169.67. The company has a market cap of $223.23 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27.

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 company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business 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 dividend yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s payout ratio is 45.70%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Susquehanna upped their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Wolfe Research upped their target price on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Citigroup upped their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. UBS Group upped their target price on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Mizuho upped their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last three months, insiders sold 45,185 shares of company stock valued at $8,456,475. Company insiders own 0.08% of the company’s stock.

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.