Point View Wealth Management Inc. Increases Holdings in QUALCOMM, Inc. (QCOM)

Point View Wealth Management Inc. raised its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,818 shares of the wireless technology company’s stock after acquiring an additional 774 shares during the quarter. Point View Wealth Management Inc.’s holdings in QUALCOMM were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. HL Financial Services LLC boosted its stake in QUALCOMM by 0.6% during the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock valued at $1,162,000 after buying an additional 128 shares during the period. Harrington Investments INC boosted its stake in QUALCOMM by 1.1% during the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock valued at $784,000 after buying an additional 150 shares during the period. Atlas Brown Inc. boosted its stake in QUALCOMM by 3.5% during the first quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock valued at $303,000 after buying an additional 179 shares during the period. Paulson Wealth Management Inc. boosted its stake in QUALCOMM by 3.3% during the first quarter. Paulson Wealth Management Inc. now owns 5,920 shares of the wireless technology company’s stock valued at $338,000 after buying an additional 191 shares during the period. Finally, Boenning & Scattergood Inc. boosted its stake in QUALCOMM by 3.1% during the fourth quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock valued at $372,000 after buying an additional 197 shares during the period. 77.95% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Erin L. Polek sold 6,118 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.26, for a total value of $546,092.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Cristiano R. Amon sold 13,466 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the transaction, the president now owns 37,614 shares in the company, valued at approximately $2,256,840. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,832 shares of company stock worth $37,443,538. Company insiders own 0.11% of the company’s stock.

QCOM has been the subject of several research analyst reports. BMO Capital Markets reissued a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. Zacks Investment Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Cowen reissued an “outperform” rating and set a $70.00 price objective (down previously from $73.00) on shares of QUALCOMM in a research note on Thursday, January 31st. ValuEngine raised QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, Bank of America upgraded QUALCOMM from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $105.00 in a research report on Thursday, May 2nd. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $81.13.

QCOM opened at $69.31 on Thursday. The stock has a market capitalization of $94.52 billion, a PE ratio of 21.73, a P/E/G ratio of 1.71 and a beta of 1.45. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, analysts predict that QUALCOMM, Inc. will post 3.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 annualized dividend and a dividend yield of 3.58%. QUALCOMM’s dividend payout ratio is currently 77.74%.

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QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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