Monument Capital Management Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Monument Capital Management boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,261 shares of the wireless technology company’s stock after acquiring an additional 398 shares during the period. Monument Capital Management’s holdings in QUALCOMM were worth $552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC boosted its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after acquiring an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in QUALCOMM during the first quarter valued at $238,770,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,456,475 over the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 1.9 %

NASDAQ QCOM traded up $3.77 on Wednesday, reaching $203.93. 1,904,703 shares of the stock traded hands, compared to its average volume of 9,262,588. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a market cap of $227.59 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.42 and a beta of 1.27. The company has a fifty day moving average price of $197.39 and a 200-day moving average price of $170.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on QCOM. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. KeyCorp upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. Finally, Piper Sandler boosted their target price on QUALCOMM from $165.00 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price 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.