QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lifted by Nepsis Inc.

Nepsis Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 121,960 shares of the wireless technology company’s stock after acquiring an additional 1,593 shares during the period. QUALCOMM comprises about 5.6% of Nepsis Inc.’s holdings, making the stock its 5th largest holding. Nepsis Inc.’s holdings in QUALCOMM were worth $20,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% in 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 in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM in the 4th quarter worth about $32,000. Cherry Tree Wealth Management LLC boosted its holdings 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 valued at $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $0.23 during trading hours on Tuesday, hitting $201.07. 2,380,940 shares of the company’s stock were exchanged, compared to its average volume of 9,213,473. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year 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. The company’s 50-day moving average price is $192.98 and its 200-day moving average price is $167.91. The stock has a market capitalization of $224.39 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 2.59 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted 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 firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.83 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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Insider Transactions at QUALCOMM

In related 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 value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 in the last three months. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QCOM. Susquehanna upped 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. Bank of America increased their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, TD Cowen lifted their price objective on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Check Out Our Latest Analysis on QCOM

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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