General Partner Inc. Purchases 177 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

General Partner Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.8% in the first quarter, Holdings Channel reports. The firm owned 2,450 shares of the wireless technology company’s stock after acquiring an additional 177 shares during the quarter. General Partner Inc.’s holdings in QUALCOMM were worth $415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Cassaday & Co Wealth Management LLC raised its holdings in QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in QUALCOMM by 6.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares in the last quarter. Chilton Capital Management LLC raised its holdings in QUALCOMM by 1.9% in the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after purchasing an additional 70 shares in the last quarter. Means Investment CO. Inc. raised its holdings in QUALCOMM by 1.2% in the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after purchasing an additional 71 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its holdings in QUALCOMM by 2.5% in the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after purchasing an additional 73 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock traded up $6.82 during mid-day trading on Tuesday, hitting $229.04. The company had a trading volume of 11,233,185 shares, compared to its average volume of 8,922,039. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company’s fifty day moving average is $188.58 and its 200-day moving average is $164.88. The company has a market capitalization of $255.61 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 2.62 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping 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 business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analysts Set New Price Targets

A number of equities analysts have commented on QCOM shares. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. Susquehanna upped their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Piper Sandler upped their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company upped their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.74.

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.