2,011 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Avaii Wealth Management LLC

Avaii Wealth Management LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) during the first quarter, Holdings Channel reports. The fund purchased 2,011 shares of the wireless technology company’s stock, valued at approximately $308,000.

Several other large investors also recently modified their holdings of the stock. RBA Wealth Management LLC raised its stake in QUALCOMM by 2.4% in the 1st quarter. RBA Wealth Management LLC now owns 24,275 shares of the wireless technology company’s stock valued at $3,710,000 after acquiring an additional 568 shares during the period. Monument Capital Management raised its stake in QUALCOMM by 29.1% in the 1st quarter. Monument Capital Management now owns 2,999 shares of the wireless technology company’s stock valued at $458,000 after acquiring an additional 676 shares during the period. North Growth Management Ltd. raised its stake in QUALCOMM by 12.2% in the 1st quarter. North Growth Management Ltd. now owns 138,000 shares of the wireless technology company’s stock valued at $21,050,000 after acquiring an additional 15,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in QUALCOMM by 2.0% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 264,107 shares of the wireless technology company’s stock valued at $40,360,000 after acquiring an additional 5,169 shares during the period. Finally, Bard Financial Services Inc. raised its stake in QUALCOMM by 0.5% in the 1st quarter. Bard Financial Services Inc. now owns 36,210 shares of the wireless technology company’s stock valued at $5,534,000 after acquiring an additional 175 shares during the period. 73.61% of the stock is currently owned by institutional investors.

Shares of NASDAQ:QCOM traded down $1.34 during trading on Thursday, reaching $120.82. 159,651 shares of the company traded hands, compared to its average volume of 8,705,358. The firm has a market capitalization of $135.32 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.69 and a beta of 1.20. QUALCOMM Incorporated has a 52-week low of $118.36 and a 52-week high of $193.58. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average is $135.63 and its 200-day moving average is $157.00.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.19. The firm had revenue of $11.16 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same quarter in the prior year, the firm posted $1.59 earnings per share. On average, sell-side analysts predict that QUALCOMM Incorporated will post 11.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, June 1st. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. QUALCOMM’s dividend payout ratio is 30.71%.

A number of brokerages recently issued reports on QCOM. Susquehanna lowered their price objective on QUALCOMM from $190.00 to $165.00 in a research note on Thursday, April 28th. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 7th. Wells Fargo & Company decreased their price target on QUALCOMM from $185.00 to $150.00 in a research report on Thursday, April 28th. Barclays decreased their price target on QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Finally, Sumitomo Mitsui Financial Group cut QUALCOMM from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $215.00 to $155.00 in a research report on Monday, April 18th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $196.48.

In related news, CAO Erin L. Polek sold 1,521 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.05% of the company’s stock.

QUALCOMM Profile (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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