Leonard Rickey Investment Advisors P.L.L.C. Makes New $208,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,231 shares of the wireless technology company’s stock, valued at approximately $208,000.

A number of other institutional investors have also made changes to their positions in QCOM. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD increased its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Morgan Stanley raised its holdings in QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after acquiring an additional 438,660 shares in the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $2,507,978,000. Finally, Putnam Investments LLC grew its holdings in shares of QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QCOM. Citigroup lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Piper Sandler boosted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna raised their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group raised their price target on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Trading Down 0.5 %

Shares of QCOM stock traded down $1.03 during trading hours on Tuesday, reaching $199.00. The company had a trading volume of 2,428,568 shares, compared to its average volume of 9,295,552. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a market cap of $222.08 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.42 and a beta of 1.27. The company has a 50 day moving average of $195.82 and a 200 day moving average of $169.67.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for 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, equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock valued at $8,456,475. Corporate insiders own 0.08% of the company’s stock.

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.