TBH Global Asset Management LLC Purchases 266 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

TBH Global Asset Management LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,794 shares of the wireless technology company’s stock after purchasing an additional 266 shares during the period. TBH Global Asset Management LLC’s holdings in QUALCOMM were worth $1,150,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of QCOM. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC boosted its holdings in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the sale, the chief financial officer now owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of 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 SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the completion of the sale, the chief financial officer now owns 66,343 shares of the company’s stock, valued at $11,987,516.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock valued at $8,552,835. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Barclays upped their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen increased their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $190.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday. Mizuho boosted their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Bank of America lifted their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $197.54.

QUALCOMM Trading Down 0.1 %

NASDAQ:QCOM traded down $0.14 during midday trading on Thursday, hitting $191.46. The stock had a trading volume of 9,913,938 shares, compared to its average volume of 9,186,523. The stock has a 50-day moving average of $204.49 and a 200 day moving average of $174.97. The company has a market capitalization of $213.67 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.55 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 quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.78%. QUALCOMM’s dividend payout ratio is currently 45.70%.

About QUALCOMM

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.