O Keefe Stevens Advisory Inc. Purchases 346 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

O Keefe Stevens Advisory Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 131,190 shares of the wireless technology company’s stock after acquiring an additional 346 shares during the period. QUALCOMM comprises 7.3% of O Keefe Stevens Advisory Inc.’s investment portfolio, making the stock its 2nd biggest position. O Keefe Stevens Advisory Inc.’s holdings in QUALCOMM were worth $22,211,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of QCOM. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of 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 buying an additional 157 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM during the fourth quarter worth about $32,000. Cherry Tree Wealth Management LLC increased its stake in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,802.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 1.4 %

Shares of NASDAQ:QCOM traded down $2.94 during midday trading on Friday, hitting $212.53. The company had a trading volume of 22,741,323 shares, compared to its average volume of 10,186,122. The firm has a fifty day simple moving average of $192.36 and a 200 day simple moving average of $167.17. The stock has a market cap of $237.18 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.62 and a beta of 1.30. 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 Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. The company 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%. On average, analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.60%. QUALCOMM’s payout ratio is 45.70%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group raised their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. UBS Group increased their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Argus upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. HSBC increased their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Susquehanna increased 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.13.

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.