ProVise Management Group LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

ProVise Management Group LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,791 shares of the wireless technology company’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently modified their holdings of the business. Glass Jacobson Investment Advisors llc increased its position in QUALCOMM by 6.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after buying an additional 68 shares in the last quarter. Chilton Capital Management LLC raised its stake in QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. Means Investment CO. Inc. lifted its holdings in QUALCOMM by 1.2% during the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after purchasing an additional 71 shares in the last quarter. Marino Stram & Associates LLC boosted its position in shares of QUALCOMM by 2.5% in the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after purchasing an additional 73 shares during the period. Finally, Avantax Planning Partners Inc. increased its stake in shares of QUALCOMM by 1.5% in the fourth quarter. Avantax Planning Partners Inc. now owns 5,115 shares of the wireless technology company’s stock worth $740,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna lifted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Canaccord Genuity Group lifted their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Mizuho lifted their price target on shares of QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Trading Up 4.3 %

Shares of QCOM traded up $8.60 during midday trading on Friday, hitting $210.36. The stock had a trading volume of 13,809,903 shares, compared to its average volume of 9,331,276. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $211.30. 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 stock’s 50 day moving average is $175.50 and its 200 day moving average is $155.24. The firm has a market cap of $234.76 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.32 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.62%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 43.01%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction 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. Insiders have sold 70,074 shares of company stock worth $12,258,386 in the last three months. Corporate 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.