CreativeOne Wealth LLC Buys 1,949 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CreativeOne Wealth LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 52.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,652 shares of the wireless technology company’s stock after purchasing an additional 1,949 shares during the period. CreativeOne Wealth LLC’s holdings in QUALCOMM were worth $957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC raised its stake in shares of QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup lifted their price target on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley lifted their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Piper Sandler lifted their price target on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Mizuho lifted their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.63.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the sale, the chief financial officer now directly owns 66,343 shares in the company, valued at $11,987,516.67. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the sale, the chief financial officer now directly owns 66,343 shares in the company, valued at $11,987,516.67. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock worth $8,552,835. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $4.66 during trading on Friday, reaching $180.05. 6,567,842 shares of the stock were exchanged, compared to its average volume of 8,034,185. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market cap of $200.94 billion, a PE ratio of 24.20, a PEG ratio of 2.13 and a beta of 1.27. The stock has a 50-day moving average price of $204.19 and a 200-day moving average price of $177.00. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Research analysts expect that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

QUALCOMM Company 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.