Crewe Advisors LLC Invests $227,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Crewe Advisors LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, HoldingsChannel reports. The fund purchased 1,341 shares of the wireless technology company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $2,507,978,000. International Assets Investment Management LLC boosted its position in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM in the first quarter worth approximately $238,770,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 3.1 %

Shares of QCOM traded down $5.68 during mid-day trading on Thursday, reaching $175.39. 12,692,202 shares of the stock traded hands, compared to its average volume of 9,205,049. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $204.47 and a 200 day simple moving average of $176.72. The firm has a market cap of $195.74 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.35 and a beta of 1.27. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the sale, the chief financial officer now owns 66,343 shares in the company, valued at $11,987,516.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the completion of the sale, the chief financial officer now owns 66,343 shares in the company, valued at $11,987,516.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s 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 sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock worth $8,552,835. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Barclays raised their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna raised their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.63.

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.