Salem Investment Counselors Inc. Buys 323 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Salem Investment Counselors Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,348 shares of the wireless technology company’s stock after buying an additional 323 shares during the quarter. Salem Investment Counselors Inc.’s holdings in QUALCOMM were worth $19,359,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. O Keefe Stevens Advisory Inc. boosted its holdings in shares of QUALCOMM by 0.3% during the first quarter. O Keefe Stevens Advisory Inc. now owns 131,190 shares of the wireless technology company’s stock worth $22,211,000 after acquiring an additional 346 shares during the period. City State Bank grew its holdings in QUALCOMM by 14.0% in the 1st quarter. City State Bank now owns 570 shares of the wireless technology company’s stock valued at $97,000 after buying an additional 70 shares in the last quarter. &PARTNERS increased its position in QUALCOMM by 15.7% during the 1st quarter. &PARTNERS now owns 5,124 shares of the wireless technology company’s stock worth $868,000 after buying an additional 695 shares during the period. GSG Advisors LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $219,000. Finally, MJP Associates Inc. ADV increased its stake in QUALCOMM by 24.6% during the 1st quarter. MJP Associates Inc. ADV now owns 2,153 shares of the wireless technology company’s stock worth $364,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,185 shares of company stock worth $8,206,875. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QCOM. Wells Fargo & Company lifted their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. raised their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Mizuho upped their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $2.94 during trading hours on Friday, reaching $212.53. The stock had a trading volume of 22,741,323 shares, compared to its average volume of 10,186,122. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The stock has a 50 day simple moving average of $192.36 and a 200 day simple moving average of $167.17. The stock has a market cap of $237.18 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, research analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.60%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

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.