2,863 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Monument Capital Management

Monument Capital Management bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,863 shares of the wireless technology company’s stock, valued at approximately $414,000.

Other large investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its holdings 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 worth $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $35,000. Cranbrook Wealth Management LLC lifted its stake in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the third quarter valued at $29,000. Finally, Buck Wealth Strategies LLC acquired a new stake in QUALCOMM in the third quarter valued at $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.6 %

QCOM opened at $160.18 on Tuesday. The company’s 50 day moving average is $165.01 and its 200-day moving average is $143.47. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. 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 company has a market cap of $178.76 billion, a P/E ratio of 23.21, a PEG ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating 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 company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, 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 ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Mizuho increased their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Cantor Fitzgerald increased their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays increased their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Evercore ISI started coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. Finally, Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. 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 thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

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.