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

Transform Wealth LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,916 shares of the wireless technology company’s stock after purchasing an additional 66 shares during the period. Transform Wealth LLC’s holdings in QUALCOMM were worth $494,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. raised its holdings 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 worth $26,000 after purchasing an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% in 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 in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC grew its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $35,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock traded down $2.18 during trading on Thursday, reaching $195.15. The company had a trading volume of 11,912,951 shares, compared to its average volume of 9,320,610. The firm has a market capitalization of $217.79 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. 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 firm’s 50-day simple moving average is $194.32 and its 200 day simple moving average is $168.60. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results 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. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.74%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. UBS Group upped their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barclays raised their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

Insiders Place Their Bets

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock worth $8,206,875 over the last three months. 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.