Investment Partners Asset Management Inc. Buys 101 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Investment Partners Asset Management Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,405 shares of the wireless technology company’s stock after purchasing an additional 101 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in QUALCOMM were worth $915,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after buying an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Morgan Stanley boosted its stake in QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the fourth quarter worth $2,507,978,000. Finally, Putnam Investments LLC increased its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after buying an additional 263,482 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $3.07 on Thursday, hitting $194.26. 5,028,104 shares of the company were exchanged, compared to its average volume of 9,264,673. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $216.79 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The company has a 50-day moving average price of $194.32 and a 200 day moving average price of $168.60.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In related news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Neil Smit sold 3,069 shares of the company’s 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 transaction, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 in the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Wolfe Research raised their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Citigroup upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Robert W. Baird boosted their target price on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Barclays boosted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Tigress Financial lifted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM 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.