Cambridge Advisors Inc. Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Advisors Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,596 shares of the wireless technology company’s stock after purchasing an additional 100 shares during the quarter. Cambridge Advisors Inc.’s holdings in QUALCOMM were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Peoples Bank OH purchased a new stake in QUALCOMM during the 4th quarter worth approximately $219,000. Bank Hapoalim BM increased its holdings in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC increased its holdings in QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the last quarter. 1834 Investment Advisors Co. increased its holdings in QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $305,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $199.18 on Friday. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market cap of $222.28 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. The company’s 50-day moving average price is $195.82 and its two-hundred day moving average price is $169.22.

QUALCOMM (NASDAQ:QCOM) last released 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. 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Robert W. Baird boosted their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. UBS Group boosted their price target on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, HSBC boosted their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. One equities 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 stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $192.13.

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.