Brown Miller Wealth Management LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Brown Miller Wealth Management LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,809 shares of the wireless technology company’s stock after buying an additional 336 shares during the period. QUALCOMM comprises 1.5% of Brown Miller Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Brown Miller Wealth Management LLC’s holdings in QUALCOMM were worth $3,353,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Grandview Asset Management LLC raised its stake in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. raised its stake in QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the period. VERITY Wealth Advisors increased its stake in shares of QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after acquiring an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its holdings in shares of QUALCOMM by 1.2% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after acquiring an additional 66 shares in the last quarter. Finally, Transform Wealth LLC raised its holdings in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after acquiring an additional 66 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock worth $8,206,875. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $4.03 during mid-day trading on Friday, hitting $199.18. The company had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The business’s 50-day simple moving average is $195.82 and its 200-day simple moving average is $169.45. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market cap of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. Bank of America increased their price objective on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. KeyCorp increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Wells Fargo & Company increased their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Finally, Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. 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 company’s stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price 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.