Janney Montgomery Scott LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Janney Montgomery Scott LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 681,808 shares of the wireless technology company’s stock after buying an additional 37,097 shares during the period. Janney Montgomery Scott LLC’s holdings in QUALCOMM were worth $104,733,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at $7,568,140.80. This 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 valued at $8,135,164 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $154.72 on Monday. The firm has a market capitalization of $169.88 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The business has a 50 day simple moving average of $145.85 and a 200-day simple moving average of $155.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned $2.44 EPS. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Analysts Set New Price Targets

QCOM has been the subject of several research analyst reports. Susquehanna cut their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark cut their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $189.88.

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.