Great Lakes Retirement Inc. Purchases 1,307 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Great Lakes Retirement Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the first quarter, HoldingsChannel.com reports. The fund owned 20,077 shares of the wireless technology company’s stock after acquiring an additional 1,307 shares during the quarter. Great Lakes Retirement Inc.’s holdings in QUALCOMM were worth $3,084,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $154.72 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $169.88 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock has a fifty day simple moving average of $145.85 and a two-hundred day simple moving average of $155.14.

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

QUALCOMM Increases Dividend

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

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last three months. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Susquehanna cut their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Company 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.