Breakwater Capital Group Buys 128 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Breakwater Capital Group raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,545 shares of the wireless technology company’s stock after buying an additional 128 shares during the period. Breakwater Capital Group’s holdings in QUALCOMM were worth $769,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QCOM. Algert Global LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $545,000. Rehmann Capital Advisory Group raised its stake in QUALCOMM by 3.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,312 shares of the wireless technology company’s stock worth $1,145,000 after buying an additional 361 shares during the period. Logan Capital Management Inc. raised its stake in QUALCOMM by 20.2% during the 3rd quarter. Logan Capital Management Inc. now owns 7,451 shares of the wireless technology company’s stock worth $828,000 after buying an additional 1,252 shares during the period. Insigneo Advisory Services LLC raised its stake in QUALCOMM by 13.5% during the 3rd quarter. Insigneo Advisory Services LLC now owns 7,017 shares of the wireless technology company’s stock worth $779,000 after buying an additional 836 shares during the period. Finally, Becker Capital Management Inc. raised its stake in QUALCOMM by 5.0% during the 3rd quarter. Becker Capital Management Inc. now owns 298,936 shares of the wireless technology company’s stock worth $33,200,000 after buying an additional 14,171 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. HSBC upped their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Barclays upped their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. UBS Group upped their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,185 shares of company stock valued at $6,860,715. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $199.18 on Monday. The stock has a fifty day simple moving average of $195.82 and a two-hundred day simple moving average of $169.67. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market cap of $222.28 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share 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 business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. Analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.71%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

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.