Core Wealth Partners LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Core Wealth Partners LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,427 shares of the wireless technology company’s stock after buying an additional 198 shares during the quarter. Core Wealth Partners LLC’s holdings in QUALCOMM were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM during the 4th quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $3.65 during trading hours on Thursday, hitting $203.81. 4,996,211 shares of the stock were exchanged, compared to its average volume of 10,966,074. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The firm’s fifty day moving average price is $198.20 and its 200 day moving average price is $170.71. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $227.45 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.43 and a beta of 1.27.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. 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 dividend yield of 1.67%. QUALCOMM’s dividend payout ratio is 45.70%.

Insider Activity

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders sold 42,185 shares of company stock worth $7,936,005 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Canaccord Genuity Group lifted their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Tigress Financial boosted their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Barclays boosted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Piper Sandler boosted their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

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.