QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Brighton Jones LLC

Brighton Jones LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the 4th quarter, Holdings Channel reports. The fund owned 10,386 shares of the wireless technology company’s stock after acquiring an additional 462 shares during the quarter. Brighton Jones LLC’s holdings in QUALCOMM were worth $1,502,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its stake 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 purchasing an additional 122 shares during the last quarter. Legacy Financial Group LLC purchased a new position in shares of QUALCOMM during the third quarter worth approximately $29,000. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $35,000. Cranbrook Wealth Management LLC grew its position in shares of QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. grew its position in shares of QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 163,963 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.2 %

Shares of QCOM stock opened at $165.51 on Wednesday. The stock has a market cap of $184.71 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.32 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The business has a fifty day simple moving average of $166.45 and a 200-day simple moving average of $145.75.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QCOM. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 target price on the stock. Rosenblatt Securities raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, TD Cowen lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.68.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last ninety days. 0.08% of the stock is currently owned by insiders.

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.