Signature Resources Capital Management LLC Has $229,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Signature Resources Capital Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,490 shares of the wireless technology company’s stock after selling 134 shares during the quarter. Signature Resources Capital Management LLC’s holdings in QUALCOMM were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Elevation Point Wealth Partners LLC lifted its stake in shares of QUALCOMM by 32.1% in the first quarter. Elevation Point Wealth Partners LLC now owns 27,494 shares of the wireless technology company’s stock worth $4,223,000 after buying an additional 6,685 shares during the last quarter. Krilogy Financial LLC raised its stake in QUALCOMM by 2.6% during the 1st quarter. Krilogy Financial LLC now owns 10,861 shares of the wireless technology company’s stock valued at $1,668,000 after purchasing an additional 274 shares during the last quarter. CCM Investment Advisers LLC raised its stake in QUALCOMM by 15.2% during the 1st quarter. CCM Investment Advisers LLC now owns 86,632 shares of the wireless technology company’s stock valued at $13,308,000 after purchasing an additional 11,407 shares during the last quarter. Everhart Financial Group Inc. raised its stake in QUALCOMM by 67.2% during the 1st quarter. Everhart Financial Group Inc. now owns 4,646 shares of the wireless technology company’s stock valued at $714,000 after purchasing an additional 1,868 shares during the last quarter. Finally, Marshall Financial Group LLC raised its stake in QUALCOMM by 0.6% during the 1st quarter. Marshall Financial Group LLC now owns 14,123 shares of the wireless technology company’s stock valued at $2,169,000 after purchasing an additional 84 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $189.88.

QUALCOMM Stock Down 2.5%

QCOM opened at $154.72 on Friday. The firm’s 50-day simple moving average is $145.85 and its 200-day simple moving average is $155.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The firm has a market cap 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 (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase 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%. QUALCOMM’s payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

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 shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company’s stock.

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.