Strategic Financial Concepts LLC Acquires Shares of 3,497 QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Financial Concepts LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,497 shares of the wireless technology company’s stock, valued at approximately $592,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. Legacy Financial Group LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM during the 4th quarter valued at $32,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 2.0 %

QCOM stock traded down $3.35 during trading on Tuesday, reaching $165.85. The company had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. The business has a 50 day moving average of $166.45 and a 200 day moving average of $145.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market cap of $185.09 billion, a P/E ratio of 24.04, a PEG ratio of 2.27 and a beta of 1.41. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared 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 represents a $3.40 annualized dividend and a dividend yield of 2.05%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. TD Cowen lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. HSBC raised their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.68.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last three months. Company 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.