LVW Advisors LLC Takes $370,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

LVW Advisors LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,187 shares of the wireless technology company’s stock, valued at approximately $370,000.

A number of other institutional investors also recently modified their holdings of QCOM. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the third 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 during the period. CarsonAllaria Wealth Management Ltd. increased its position in QUALCOMM by 327.1% during the fourth 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 during the period. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC increased its position in QUALCOMM by 95.0% during the fourth 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 during the period. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter worth $35,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.1 %

Shares of NASDAQ QCOM opened at $199.18 on Monday. The firm’s 50-day simple moving average is $195.82 and its 200 day simple moving average is $169.67. The company 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 quick ratio of 1.98, a current ratio of 2.65 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.

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 the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal 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 given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Citigroup boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, Bank of America boosted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,185 shares of company stock worth $6,860,715. Company insiders own 0.08% of the company’s stock.

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.