Red Door Wealth Management LLC Purchases 1,243 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Red Door Wealth Management LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,207 shares of the wireless technology company’s stock after acquiring an additional 1,243 shares during the quarter. QUALCOMM accounts for about 1.2% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Red Door Wealth Management LLC’s holdings in QUALCOMM were worth $6,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in QCOM. Grandview Asset Management LLC raised its position in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares during the period. Tealwood Asset Management Inc. grew its holdings in shares of QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares in the last quarter. VERITY Wealth Advisors grew its holdings in shares of QUALCOMM by 0.8% during the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after buying an additional 64 shares in the last quarter. Cassaday & Co Wealth Management LLC grew 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 buying an additional 66 shares in the last quarter. Finally, Transform Wealth LLC grew 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 buying an additional 66 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 2.1 %

Shares of QCOM traded up $4.03 during mid-day trading on Friday, hitting $199.18. 15,547,484 shares of the company’s stock were exchanged, compared to its average volume of 11,272,695. The company has a market cap of $222.28 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.30. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock’s 50-day moving average is $195.82 and its 200-day moving average is $169.45.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared 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 1.71%. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the 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 transaction, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Mizuho upped their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.