Crewe Advisors LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Crewe Advisors LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,341 shares of the wireless technology company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently made changes to their positions in QCOM. BKM Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter valued at about $58,000. HB Wealth Management LLC grew its holdings in QUALCOMM by 29.7% during the 4th quarter. HB Wealth Management LLC now owns 21,050 shares of the wireless technology company’s stock valued at $3,045,000 after purchasing an additional 4,818 shares during the last quarter. Wealthsource Partners LLC grew its holdings in QUALCOMM by 8.6% during the 4th quarter. Wealthsource Partners LLC now owns 3,883 shares of the wireless technology company’s stock valued at $562,000 after purchasing an additional 309 shares during the last quarter. CVA Family Office LLC grew its holdings in QUALCOMM by 8.5% during the 4th quarter. CVA Family Office LLC now owns 2,730 shares of the wireless technology company’s stock valued at $395,000 after purchasing an additional 214 shares during the last quarter. Finally, HBW Advisory Services LLC bought a new position in QUALCOMM during the 4th quarter valued at about $259,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. KeyCorp upped their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Barclays upped their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Evercore ISI initiated coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. UBS Group upped their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Wolfe Research upped their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.63.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $5.68 on Thursday, hitting $175.39. 12,692,202 shares of the company were exchanged, compared to its average volume of 9,205,049. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $204.47 and its 200 day moving average price is $176.72. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market capitalization of $195.74 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.35 and a beta of 1.27.

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, topping 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 firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.84 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.94%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction 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 transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction 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 transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock valued at $8,552,835. Corporate insiders own 0.08% of the company’s stock.

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.