QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Increased by KRS Capital Management LLC

KRS Capital Management LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,917 shares of the wireless technology company’s stock after buying an additional 149 shares during the quarter. QUALCOMM comprises approximately 1.5% of KRS Capital Management LLC’s portfolio, making the stock its 10th largest position. KRS Capital Management LLC’s holdings in QUALCOMM were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cambridge Advisors Inc. raised its position in shares of QUALCOMM by 2.9% during the 1st quarter. Cambridge Advisors Inc. now owns 3,596 shares of the wireless technology company’s stock valued at $609,000 after buying an additional 100 shares during the period. Norwood Financial Corp raised its position in shares of QUALCOMM by 72.7% during the 1st quarter. Norwood Financial Corp now owns 475 shares of the wireless technology company’s stock valued at $80,000 after buying an additional 200 shares during the period. Atlantic Union Bankshares Corp raised its position in QUALCOMM by 6.6% in the first quarter. Atlantic Union Bankshares Corp now owns 78,981 shares of the wireless technology company’s stock valued at $13,371,000 after purchasing an additional 4,885 shares during the period. LongView Wealth Management purchased a new stake in QUALCOMM in the first quarter valued at approximately $203,000. Finally, Artemis Investment Management LLP raised its position in QUALCOMM by 89.7% in the first quarter. Artemis Investment Management LLP now owns 72,508 shares of the wireless technology company’s stock valued at $12,269,000 after purchasing an additional 34,282 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on QCOM shares. Wells Fargo & Company boosted their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Barclays boosted their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. Bank of America boosted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $192.13.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $199.18 on Friday. The company has a 50-day simple moving average of $195.82 and a 200-day simple moving average of $169.22. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.37 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, analysts predict that QUALCOMM Incorporated will post 7.85 EPS 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 given a dividend of $0.85 per share. 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 1.71%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.