Chatham Capital Group Inc. Purchases 2,397 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Chatham Capital Group Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,652 shares of the wireless technology company’s stock after buying an additional 2,397 shares during the quarter. Chatham Capital Group Inc.’s holdings in QUALCOMM were worth $4,174,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. boosted 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 valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC lifted 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 valued at $34,000 after buying an additional 115 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in QUALCOMM during the fourth quarter valued at $35,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $4.03 during midday trading on Friday, reaching $199.18. The company’s stock had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30. The firm has a 50 day moving average price of $195.82 and a 200-day moving average price of $169.67. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

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

QUALCOMM Increases Dividend

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

Insider Activity

In related news, Director Neil Smit sold 3,069 shares of QUALCOMM 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 sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil Smit sold 3,069 shares of the business’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 transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,206,875 in the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. HSBC raised their price objective 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. Piper Sandler boosted their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Bank of America raised their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus 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.