2,594 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Quest Partners LLC

Quest Partners LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,594 shares of the wireless technology company’s stock, valued at approximately $375,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. increased its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth about $32,000. Cherry Tree Wealth Management LLC lifted its stake in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the period. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd 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. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on QCOM shares. Argus lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Wolfe Research boosted their price target on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. TD Cowen raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,074 shares of company stock valued at $12,258,386. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 4.3 %

Shares of QCOM traded up $8.60 during trading hours on Friday, reaching $210.36. 13,809,903 shares of the stock traded hands, compared to its average volume of 9,331,276. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $211.30. The company has a market cap of $234.76 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.49 and a beta of 1.33. The stock has a fifty day simple moving average of $175.50 and a 200 day simple moving average of $155.00. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.62%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

QUALCOMM Company 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.