Mezzasalma Advisors LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Mezzasalma Advisors LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,310 shares of the wireless technology company’s stock, valued at approximately $222,000.

A number of other hedge funds also recently bought and sold shares of QCOM. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter worth $2,507,978,000. International Assets Investment Management LLC raised its position in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD increased its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in QUALCOMM in the 1st quarter valued at approximately $238,770,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.8 %

Shares of QUALCOMM stock traded up $3.65 on Thursday, hitting $203.81. 4,996,211 shares of the company’s stock traded hands, compared to its average volume of 10,966,074. The firm’s 50-day moving average price is $198.20 and its two-hundred day moving average price is $170.71. The stock has a market capitalization of $227.45 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS 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 business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, research analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.67%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. KeyCorp lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Piper Sandler increased their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. UBS Group lifted their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One equities 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’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,185 shares of company stock worth $7,936,005. 0.08% of the stock is currently owned by company insiders.

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.