QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,305 shares of the wireless technology company’s stock after acquiring an additional 201 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in QUALCOMM were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Teza Capital Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at $1,541,000. Purkiss Capital Advisors LLC acquired a new position in QUALCOMM in the fourth quarter valued at $303,000. Amundi increased its stake in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. First Foundation Advisors increased its stake in QUALCOMM by 41.2% in the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after purchasing an additional 45,769 shares during the period. Finally, Arbor Capital Management Inc. ADV increased its stake in QUALCOMM by 16.4% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 15,114 shares of the wireless technology company’s stock valued at $2,322,000 after purchasing an additional 2,128 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 transaction of $486,951.30. Following the sale, the chief financial officer now owns 49,779 shares of the company’s stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have 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 research analysts have commented on QCOM shares. Benchmark dropped their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $189.88.

QUALCOMM Stock Down 2.5%

Shares of NASDAQ QCOM opened at $154.72 on Friday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a market capitalization of $169.88 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50-day moving average is $145.85 and its two-hundred day moving average is $155.15.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is presently 36.25%.

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.