Ceeto Capital Group LLC Has $1.35 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ceeto Capital Group LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 40.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,000 shares of the wireless technology company’s stock after purchasing an additional 2,300 shares during the quarter. Ceeto Capital Group LLC’s holdings in QUALCOMM were worth $1,354,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Piper Sandler upped their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Citigroup upped their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Canaccord Genuity Group upped their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

QUALCOMM Price Performance

Shares of QCOM stock traded up $4.66 on Friday, hitting $180.05. 6,567,842 shares of the company’s stock were exchanged, compared to its average volume of 8,034,185. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a market cap of $200.94 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27. The company has a 50 day moving average of $204.19 and a 200 day moving average of $177.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.84 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sylvia Acevedo sold 2,056 shares of the 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 completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is currently owned by insiders.

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.