Wetzel Investment Advisors Inc. Acquires Shares of 2,211 QUALCOMM Incorporated (NASDAQ:QCOM)

Wetzel Investment Advisors Inc. bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,211 shares of the wireless technology company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in QUALCOMM in the 1st quarter valued at about $26,000. Legacy Financial Group LLC acquired a new position in shares of QUALCOMM during the 3rd quarter valued at about $29,000. Pacific Center for Financial Services acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of QUALCOMM during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.4 %

QUALCOMM stock traded down $3.81 during trading hours on Friday, reaching $157.63. 10,287,877 shares of the company’s stock were exchanged, compared to its average volume of 8,637,354. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm’s 50 day simple moving average is $164.87 and its 200 day simple moving average is $142.66. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm has a market capitalization of $175.92 billion, a PE ratio of 22.84, a PEG ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Research analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.16%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Thursday, February 1st. Barclays increased their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 price objective for the company. Finally, Mizuho raised their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.90.

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.