QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 42.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,055 shares of the wireless technology company’s stock after acquiring an additional 313 shares during the period. Sound Income Strategies LLC’s holdings in QUALCOMM were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Prentice Wealth Management LLC lifted its stake in QUALCOMM by 6.2% in the 1st quarter. Prentice Wealth Management LLC now owns 3,179 shares of the wireless technology company’s stock valued at $488,000 after buying an additional 186 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in QUALCOMM by 17.5% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 145,238 shares of the wireless technology company’s stock valued at $22,310,000 after buying an additional 21,613 shares in the last quarter. Ritholtz Wealth Management lifted its stake in QUALCOMM by 9.4% in the 1st quarter. Ritholtz Wealth Management now owns 20,507 shares of the wireless technology company’s stock valued at $3,150,000 after buying an additional 1,769 shares in the last quarter. Massachusetts Wealth Management lifted its stake in QUALCOMM by 3.7% in the 1st quarter. Massachusetts Wealth Management now owns 4,948 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 175 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in QUALCOMM by 1.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 17,609 shares of the wireless technology company’s stock valued at $2,705,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Citigroup reduced their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $189.88.

QUALCOMM Trading Up 1.4%

QCOM stock opened at $156.87 on Tuesday. The company has a market cap of $172.24 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $146.50 and a 200-day simple moving average of $155.12. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the firm posted $2.44 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is currently 36.25%.

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.