Pekin Hardy Strauss Inc. Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pekin Hardy Strauss Inc. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,125 shares of the wireless technology company’s stock after buying an additional 200 shares during the period. Pekin Hardy Strauss Inc.’s holdings in QUALCOMM were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of QCOM. Glass Jacobson Investment Advisors llc lifted its stake in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares during the last quarter. Chilton Capital Management LLC raised its holdings in QUALCOMM by 1.9% in the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after purchasing an additional 70 shares in the last quarter. Means Investment CO. Inc. boosted its holdings in shares of QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after buying an additional 71 shares in the last quarter. Marino Stram & Associates LLC boosted its holdings in shares of QUALCOMM by 2.5% in the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after buying an additional 73 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its position in shares of QUALCOMM by 6.1% in the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock worth $198,000 after buying an additional 79 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QCOM. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. Benchmark started coverage on QUALCOMM in a report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target for the company. Finally, Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $160.68.

QUALCOMM Stock Down 2.0 %

QUALCOMM stock opened at $165.85 on Wednesday. The business’s 50-day moving average price is $166.45 and its 200 day moving average price is $145.75. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The firm has a market cap of $185.09 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

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

QUALCOMM Increases Dividend

The business also recently disclosed 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 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Neil Martin sold 371 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was 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 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. 0.08% of the stock is currently owned by company insiders.

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.