Marshall Financial Group LLC Acquires 342 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Marshall Financial Group LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,823 shares of the wireless technology company’s stock after buying an additional 342 shares during the period. Marshall Financial Group LLC’s holdings in QUALCOMM were worth $2,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. Grandview Asset Management LLC lifted its position in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares during the last quarter. Tealwood Asset Management Inc. lifted its position in shares of QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after purchasing an additional 63 shares during the last quarter. VERITY Wealth Advisors boosted its stake in QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the period. Cassaday & Co Wealth Management LLC grew its holdings in QUALCOMM by 1.2% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after buying an additional 66 shares during the last quarter. Finally, Transform Wealth LLC increased its position in QUALCOMM by 2.3% in the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QCOM shares. JPMorgan Chase & Co. increased 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. Barclays raised their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research upped their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Bank of America increased their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, KeyCorp boosted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $3.65 during trading on Thursday, reaching $203.81. The company’s stock had a trading volume of 4,996,211 shares, compared to its average volume of 10,966,074. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The stock has a 50-day moving average price of $198.20 and a two-hundred day moving average price of $170.71. 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 stock has a market capitalization of $227.45 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.67%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,185 shares of company stock valued at $7,936,005. Company insiders own 0.08% of the company’s stock.

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.