Cornerstone Wealth Group LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Wealth Group LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,160 shares of the wireless technology company’s stock after acquiring an additional 738 shares during the period. Cornerstone Wealth Group LLC’s holdings in QUALCOMM were worth $5,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of 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 purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $32,000. Cherry Tree Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 115 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% during the 3rd 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 during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM traded up $4.03 during midday trading on Friday, hitting $199.18. 15,547,484 shares of the stock traded hands, compared to its average volume of 11,272,695. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market capitalization of $222.28 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The business’s 50 day moving average price is $195.82 and its two-hundred day moving average price is $169.45.

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 the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Equities research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, 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 value of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated 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 of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on QCOM shares. Wells Fargo & Company raised their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Evercore ISI started coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. HSBC raised their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.