River Street Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

River Street Advisors LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the first quarter, Holdings Channel reports. The firm owned 7,465 shares of the wireless technology company’s stock after purchasing an additional 145 shares during the period. River Street Advisors LLC’s holdings in QUALCOMM were worth $1,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCOM. CarsonAllaria Wealth Management Ltd. lifted its holdings in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at $32,000. Cherry Tree Wealth Management LLC raised its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM traded up $4.03 on Friday, reaching $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 fifty day moving average of $195.82 and a 200-day moving average of $169.45. The company has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

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

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were 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 of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last three months, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Tigress Financial upped their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Bank of America upped their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. TD Cowen upped their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Barclays upped their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.13.

About QUALCOMM

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.