First Trust Direct Indexing L.P. Purchases 3,872 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Trust Direct Indexing L.P. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 26,120 shares of the wireless technology company’s stock after purchasing an additional 3,872 shares during the period. First Trust Direct Indexing L.P.’s holdings in QUALCOMM were worth $4,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Resource Council boosted its stake in QUALCOMM by 14.8% in the first quarter. Advisor Resource Council now owns 7,360 shares of the wireless technology company’s stock worth $1,246,000 after buying an additional 950 shares in the last quarter. Financial Sense Advisors Inc. boosted its stake in QUALCOMM by 2.7% in the first quarter. Financial Sense Advisors Inc. now owns 8,399 shares of the wireless technology company’s stock worth $1,422,000 after buying an additional 217 shares in the last quarter. Madrona Financial Services LLC purchased a new stake in QUALCOMM in the first quarter worth approximately $202,000. Norden Group LLC boosted its stake in QUALCOMM by 2,713.5% in the first quarter. Norden Group LLC now owns 291,984 shares of the wireless technology company’s stock worth $49,431,000 after buying an additional 281,606 shares in the last quarter. Finally, Community Bank & Trust Waco Texas boosted its stake in QUALCOMM by 19.1% in the first quarter. Community Bank & Trust Waco Texas now owns 18,131 shares of the wireless technology company’s stock worth $3,070,000 after buying an additional 2,904 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.8 %

QUALCOMM stock traded up $3.65 during mid-day trading on Thursday, reaching $203.81. The stock had a trading volume of 4,996,211 shares, compared to its average volume of 10,966,074. The company has a market capitalization of $227.45 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.43 and a beta of 1.27. 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 company has a 50-day moving average price of $198.20 and a two-hundred day moving average price of $170.71.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.67%. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Argus upped their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. TD Cowen boosted their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. UBS Group boosted their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Bank of America boosted their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $192.13.

Insider Activity

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 completion of the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on 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 directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Insiders sold 42,185 shares of company stock valued at $7,936,005 over the last three months. 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.