QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Stiles Financial Services Inc

Stiles Financial Services Inc increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,245 shares of the wireless technology company’s stock after purchasing an additional 1,014 shares during the quarter. QUALCOMM makes up approximately 1.7% of Stiles Financial Services Inc’s holdings, making the stock its 7th biggest holding. Stiles Financial Services Inc’s holdings in QUALCOMM were worth $4,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.5%

QUALCOMM stock opened at $151.32 on Monday. The company’s 50 day simple moving average is $147.54 and its 200 day simple moving average is $154.87. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The firm has a market capitalization of $166.15 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm earned $2.44 EPS. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared 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 is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.35%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is presently 36.25%.

Analyst Ratings Changes

QCOM has been the subject of several research reports. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average price target of $186.96.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by corporate 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.