WealthPlan Investment Management LLC Takes $289,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

WealthPlan Investment Management LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,705 shares of the wireless technology company’s stock, valued at approximately $289,000.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Norges Bank bought a new position in QUALCOMM in the 4th quarter worth about $2,507,978,000. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter worth about $1,171,516,000. International Assets Investment Management LLC increased its stake in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock worth $8,552,835 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 9.4 %

NASDAQ QCOM traded down $16.95 on Thursday, hitting $164.00. The company’s stock had a trading volume of 24,746,531 shares, compared to its average volume of 9,381,455. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. 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’s 50-day simple moving average is $202.69 and its 200 day simple moving average is $178.02. The firm has a market cap of $183.02 billion, a P/E ratio of 21.88, a PEG ratio of 2.03 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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. Research analysts predict that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their target price on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday. Mizuho upped their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.71.

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.