QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Lifted by Choreo LLC

Choreo LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 48.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,269 shares of the wireless technology company’s stock after buying an additional 2,707 shares during the period. Choreo LLC’s holdings in QUALCOMM were worth $1,196,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. raised its stake 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. Legacy Financial Group LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC raised its stake in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. raised its stake in QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $165.85 on Wednesday. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $185.09 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The firm has a 50-day moving average price of $166.45 and a 200 day moving average price of $145.75.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. HSBC boosted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho boosted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $160.68.

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.