Buffington Mohr McNeal Acquires Shares of 1,348 QUALCOMM Incorporated (NASDAQ:QCOM)

Buffington Mohr McNeal acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,348 shares of the wireless technology company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Leonard Rickey Investment Advisors P.L.L.C. bought a new stake in QUALCOMM during the first quarter worth about $208,000. Allspring Global Investments Holdings LLC boosted its position in shares of QUALCOMM by 44.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 388,122 shares of the wireless technology company’s stock worth $65,709,000 after purchasing an additional 120,088 shares in the last quarter. Tributary Capital Management LLC grew its stake in shares of QUALCOMM by 6.8% in the 1st quarter. Tributary Capital Management LLC now owns 4,731 shares of the wireless technology company’s stock worth $801,000 after buying an additional 300 shares during the last quarter. Steele Capital Management Inc. bought a new position in QUALCOMM in the 1st quarter worth $217,000. Finally, Claro Advisors LLC raised its stake in shares of QUALCOMM by 22.5% in the first quarter. Claro Advisors LLC now owns 5,735 shares of the wireless technology company’s stock worth $971,000 after buying an additional 1,054 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.1 %

Shares of QCOM traded up $0.13 during midday trading on Tuesday, reaching $200.16. 5,627,737 shares of the stock were exchanged, compared to its average volume of 9,320,942. 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 has a market capitalization of $223.38 billion, a P/E ratio of 26.84, a PEG ratio of 2.42 and a beta of 1.27. The company’s 50 day moving average is $196.62 and its two-hundred day moving average is $170.08.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current 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 $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s payout ratio is currently 45.70%.

Insider Activity

In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock worth $8,456,475. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. KeyCorp lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. HSBC increased their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler lifted their price objective 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. Robert W. Baird raised their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target 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.