Glassman Wealth Services Acquires 129 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Glassman Wealth Services boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,512 shares of the wireless technology company’s stock after acquiring an additional 129 shares during the quarter. Glassman Wealth Services’ holdings in QUALCOMM were worth $363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wilson & Boucher Capital Management LLC lifted its position in QUALCOMM by 24.4% in the 4th quarter. Wilson & Boucher Capital Management LLC now owns 5,098 shares of the wireless technology company’s stock valued at $737,000 after acquiring an additional 1,001 shares in the last quarter. Founders Financial Alliance LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $231,000. Nixon Peabody Trust Co. bought a new position in shares of QUALCOMM during the 4th quarter valued at $557,000. Skopos Labs Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at $830,000. Finally, Eagle Global Advisors LLC lifted its holdings in shares of QUALCOMM by 1.5% during the 4th quarter. Eagle Global Advisors LLC now owns 53,169 shares of the wireless technology company’s stock valued at $7,690,000 after buying an additional 790 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $8.60 during trading on Friday, reaching $210.36. 13,809,903 shares of the stock traded hands, compared to its average volume of 9,331,276. The company has a market capitalization of $234.76 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 2.60 and a beta of 1.33. The business has a fifty day simple moving average of $175.50 and a two-hundred day simple moving average of $155.24. 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 Incorporated has a 52-week low of $101.47 and a 52-week high of $211.30.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on QCOM shares. Barclays increased their price target on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Robert W. Baird increased their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Mizuho raised their target price on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Buying and Selling

In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,074 shares of company stock worth $12,258,386. Corporate 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.