Catalyst Financial Partners LLC Has $1.26 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Catalyst Financial Partners LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,731 shares of the wireless technology company’s stock after buying an additional 324 shares during the quarter. Catalyst Financial Partners LLC’s holdings in QUALCOMM were worth $1,263,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Peoples Bank OH bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $219,000. HF Advisory Group LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $629,000. Bank Hapoalim BM boosted its holdings in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its holdings in shares of QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after buying an additional 2,818 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Susquehanna increased their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group raised their target price on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Finally, KeyCorp upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $180.48.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,316 shares of company stock worth $7,796,128. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QCOM traded down $0.01 during trading hours on Thursday, hitting $180.54. The stock had a trading volume of 5,510,464 shares, compared to its average volume of 8,663,888. The company’s fifty day simple moving average is $169.12 and its 200 day simple moving average is $148.31. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $184.31. The stock has a market cap of $201.48 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

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.