Beaumont Financial Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Beaumont Financial Advisors LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,523 shares of the wireless technology company’s stock after buying an additional 276 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in QUALCOMM were worth $1,233,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM in the first quarter worth $26,000. Financial Gravity Asset Management Inc. raised its stake in QUALCOMM by 102.5% during 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 in the last quarter. Fortitude Family Office LLC purchased a new stake in QUALCOMM during the fourth quarter valued at $35,000. Pacific Center for Financial Services purchased a new stake in QUALCOMM during the first quarter valued at $31,000. Finally, Cranbrook Wealth Management LLC raised its stake in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday. They set an “in-line” rating and a $177.00 price target on the stock. Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 2.4 %

NASDAQ QCOM opened at $157.63 on Friday. The company’s 50-day moving average price is $164.87 and its 200-day moving average price is $142.66. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $175.92 billion, a PE ratio of 22.84, a PEG ratio of 2.20 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.16%. This is a boost 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 is presently 46.38%.

QUALCOMM Company 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.