RBA Wealth Management LLC Acquires 97 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

RBA Wealth Management LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,570 shares of the wireless technology company’s stock after acquiring an additional 97 shares during the period. QUALCOMM accounts for approximately 2.1% of RBA Wealth Management LLC’s holdings, making the stock its 19th biggest holding. RBA Wealth Management LLC’s holdings in QUALCOMM were worth $5,175,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QCOM. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM in the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC lifted its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Tigress Financial raised their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Barclays lifted their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. HSBC lifted their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Susquehanna lifted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity

In other news, Director Sylvia Acevedo sold 2,056 shares of the 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 filing with the SEC, which is accessible through this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s 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 directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Insiders sold a total of 42,185 shares of company stock valued at $7,936,005 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $3.65 on Thursday, reaching $203.81. 4,996,211 shares of the company were exchanged, compared to its average volume of 10,966,074. The company has a market cap of $227.45 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.43 and a beta of 1.27. The business has a 50-day moving average price of $198.20 and a 200 day moving average price of $170.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Equities research analysts forecast 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 paid a $0.85 dividend. This is a boost 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 1.67%. QUALCOMM’s dividend payout ratio is 45.70%.

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.