Financial Sense Advisors Inc. Purchases 217 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Sense Advisors Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,399 shares of the wireless technology company’s stock after acquiring an additional 217 shares during the period. Financial Sense Advisors Inc.’s holdings in QUALCOMM were worth $1,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC purchased a new position in QUALCOMM in the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC increased its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 1.8 %

Shares of QCOM opened at $203.81 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a market capitalization of $227.45 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The business’s 50 day simple moving average is $197.39 and its 200-day simple moving average is $170.48.

QUALCOMM (NASDAQ:QCOM) last released 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 net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed 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. 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 yield of 1.67%. QUALCOMM’s dividend payout ratio is 45.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wolfe Research raised their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. Argus upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Citigroup lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Transactions at QUALCOMM

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 transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,185 shares of company stock worth $7,936,005. 0.08% of the stock is currently owned by company insiders.

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.