QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Waterway Wealth Management LLC

Waterway Wealth Management LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,897 shares of the wireless technology company’s stock after buying an additional 865 shares during the period. QUALCOMM makes up approximately 0.3% of Waterway Wealth Management LLC’s holdings, making the stock its 25th largest holding. Waterway Wealth Management LLC’s holdings in QUALCOMM were worth $660,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of QCOM. Red Door Wealth Management LLC increased its stake in QUALCOMM by 3.4% in the 1st quarter. Red Door Wealth Management LLC now owns 38,207 shares of the wireless technology company’s stock valued at $6,468,000 after purchasing an additional 1,243 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in QUALCOMM by 2.4% in the first quarter. Cornerstone Wealth Group LLC now owns 31,160 shares of the wireless technology company’s stock valued at $5,275,000 after purchasing an additional 738 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the first quarter valued at $37,000. River Street Advisors LLC raised its stake in shares of QUALCOMM by 2.0% during the 1st quarter. River Street Advisors LLC now owns 7,465 shares of the wireless technology company’s stock worth $1,264,000 after buying an additional 145 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in shares of QUALCOMM by 13.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 65,557 shares of the wireless technology company’s stock worth $11,099,000 after buying an additional 7,600 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last three months. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Mizuho lifted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Bank of America upped their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird upped their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Citigroup lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Trading Up 2.1 %

Shares of NASDAQ QCOM traded up $4.03 during midday trading on Friday, hitting $199.18. The stock had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30. The company has a fifty day moving average price of $195.82 and a 200 day moving average price of $169.67.

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

QUALCOMM Increases Dividend

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

QUALCOMM 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.