Monument Capital Management Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Monument Capital Management lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,261 shares of the wireless technology company’s stock after buying an additional 398 shares during the quarter. Monument Capital Management’s holdings in QUALCOMM were worth $552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Logan Capital Management Inc. grew its position in QUALCOMM by 20.2% during the third 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. Axxcess Wealth Management LLC increased its stake in QUALCOMM by 59.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 27,410 shares of the wireless technology company’s stock valued at $3,044,000 after purchasing an additional 10,192 shares in the last quarter. Alps Advisors Inc. raised its holdings in QUALCOMM by 460.2% during the third quarter. Alps Advisors Inc. now owns 55,261 shares of the wireless technology company’s stock worth $6,137,000 after purchasing an additional 45,397 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in QUALCOMM by 3.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,109,621 shares of the wireless technology company’s stock worth $123,235,000 after purchasing an additional 34,700 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in QUALCOMM by 0.6% in the third quarter. Evergreen Capital Management LLC now owns 160,973 shares of the wireless technology company’s stock valued at $17,878,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.9 %

NASDAQ:QCOM traded up $3.77 during trading hours on Wednesday, reaching $203.93. 1,904,703 shares of the company were exchanged, compared to its average volume of 9,262,588. The firm has a market cap of $227.59 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.42 and a beta of 1.27. The stock has a 50 day simple moving average of $197.39 and a 200 day simple moving average of $170.48. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.32 billion. As a group, analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is currently 45.70%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale 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 dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock worth $8,456,475. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QCOM shares. Canaccord Genuity Group boosted their price objective 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. Wolfe Research increased their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Susquehanna raised their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Barclays upped their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

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.