QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,469 shares of the wireless technology company’s stock after purchasing an additional 599 shares during the period. QUALCOMM comprises about 2.6% of Capital Investment Services of America Inc.’s holdings, making the stock its 17th biggest holding. Capital Investment Services of America Inc.’s holdings in QUALCOMM were worth $25,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of QCOM. Hennessy Advisors Inc. purchased a new stake in QUALCOMM in the 1st quarter worth about $2,666,000. Byrne Asset Management LLC lifted its stake in QUALCOMM by 2.4% in the 1st quarter. Byrne Asset Management LLC now owns 6,405 shares of the wireless technology company’s stock worth $984,000 after acquiring an additional 150 shares in the last quarter. Tritonpoint Wealth LLC lifted its stake in QUALCOMM by 6.4% in the 1st quarter. Tritonpoint Wealth LLC now owns 7,877 shares of the wireless technology company’s stock worth $1,210,000 after acquiring an additional 471 shares in the last quarter. BNC Wealth Management LLC raised its stake in shares of QUALCOMM by 606.5% during the 1st quarter. BNC Wealth Management LLC now owns 18,172 shares of the wireless technology company’s stock worth $2,791,000 after purchasing an additional 15,600 shares in the last quarter. Finally, CVA Family Office LLC raised its stake in shares of QUALCOMM by 11.7% during the 1st quarter. CVA Family Office LLC now owns 3,449 shares of the wireless technology company’s stock worth $530,000 after purchasing an additional 360 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $154.72 on Friday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm has a market capitalization of $169.88 billion, a PE ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. The business’s 50 day moving average is $145.85 and its 200-day moving average is $155.15. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.44 EPS. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.30%. QUALCOMM’s payout ratio is presently 36.25%.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QCOM shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average price target of $189.88.

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.