Financial Council LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Council LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, Holdings Channel.com reports. The fund purchased 1,261 shares of the wireless technology company’s stock, valued at approximately $213,000.

A number of other large investors have also modified their holdings of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $2,507,978,000. International Assets Investment Management LLC raised its position in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $8.95 on Thursday, reaching $199.85. 8,572,221 shares of the company’s stock traded hands, compared to its average volume of 9,179,811. The stock has a 50 day moving average price of $202.70 and a 200-day moving average price of $173.15. The firm has a market cap of $223.03 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.53 and a beta of 1.27. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating 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 business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Wolfe Research boosted their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, HSBC boosted their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.96.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock valued at $8,552,835. Insiders own 0.08% of the company’s stock.

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.