Allen Mooney & Barnes Investment Advisors LLC Has $473,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Allen Mooney & Barnes Investment Advisors LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,700 shares of the wireless technology company’s stock after selling 74 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in QUALCOMM were worth $473,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM during the 4th quarter worth about $32,000. Cherry Tree Wealth Management LLC boosted its stake 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 worth $34,000 after acquiring an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $35,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on QCOM shares. Wells Fargo & Company upped their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Argus raised their target price on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Finally, Barclays raised their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $200.84 on Tuesday. 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’s 50 day moving average price is $192.98 and its two-hundred day moving average price is $167.91. The firm has a market capitalization of $224.14 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.59 and a beta of 1.29. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS 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 company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction 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 approximately $1,466,100. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s 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 transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by corporate insiders.

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.