Sivia Capital Partners LLC Makes New $222,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Sivia Capital Partners LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, HoldingsChannel.com reports. The fund bought 1,314 shares of the wireless technology company’s stock, valued at approximately $222,000.

Several other institutional investors have also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. increased its stake in shares of 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 buying an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC increased its stake in shares of 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 buying an additional 115 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Neil Smit sold 3,069 shares of the firm’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 completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. In the last three months, insiders sold 45,185 shares of company stock valued at $8,456,475. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. Piper Sandler upped their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Barclays upped their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group upped their target price on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Stock Up 1.7 %

Shares of NASDAQ:QCOM traded up $3.31 during trading on Wednesday, reaching $203.47. 2,066,432 shares of the stock were exchanged, compared to its average volume of 9,263,861. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a fifty day moving average of $197.39 and a two-hundred day moving average of $170.48. The firm has a market cap of $227.07 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 analyst estimates of $9.32 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend 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.