QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Claro Advisors LLC

Claro Advisors LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,735 shares of the wireless technology company’s stock after purchasing an additional 1,054 shares during the period. Claro Advisors LLC’s holdings in QUALCOMM were worth $971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. increased 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 acquiring an additional 157 shares during the period. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the 4th quarter worth approximately $32,000. Cherry Tree Wealth Management LLC raised its stake in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its holdings 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 buying an additional 122 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock worth $8,456,475 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 0.4 %

QCOM stock opened at $200.03 on Tuesday. The firm has a market cap of $223.23 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.42 and a beta of 1.27. 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 price of $195.82 and a two-hundred day moving average price of $169.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.70%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Robert W. Baird raised their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, Susquehanna lifted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.