Verum Partners LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Verum Partners LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,041 shares of the wireless technology company’s stock after buying an additional 161 shares during the period. Verum Partners LLC’s holdings in QUALCOMM were worth $345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC lifted its holdings 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 acquiring an additional 115 shares during the period. Finally, Financial Gravity Asset Management Inc. boosted its position 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 acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock worth $8,456,475. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on QCOM shares. Piper Sandler upped their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a report on Friday, May 3rd. Bank of America lifted their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Finally, Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

QUALCOMM Stock Up 0.1 %

Shares of NASDAQ:QCOM traded up $0.13 during midday trading on Tuesday, reaching $200.16. The company had a trading volume of 5,629,337 shares, compared to its average volume of 9,320,942. QUALCOMM Incorporated has a one year low of $104.33 and a one 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 stock has a market capitalization of $223.38 billion, a P/E ratio of 26.84, a PEG ratio of 2.42 and a beta of 1.27. The stock’s fifty day moving average price is $196.62 and its 200-day moving average price is $170.08.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Equities research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal 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 represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is 45.70%.

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.