Sivia Capital Partners LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sivia Capital Partners LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,314 shares of the wireless technology company’s stock, valued at approximately $222,000.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $32,000. Cherry Tree Wealth Management LLC increased its position 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 worth $34,000 after purchasing an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.7 %

Shares of NASDAQ:QCOM traded up $3.31 during mid-day trading on Wednesday, reaching $203.47. The stock had a trading volume of 2,066,432 shares, compared to its average volume of 9,263,861. The firm has a market cap of $227.07 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The firm has a 50 day simple moving average of $197.39 and a two-hundred day simple moving average of $170.48. 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 Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business 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 is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’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 transaction of $366,399.76. Following the sale, the director now owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock worth $8,456,475. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. KeyCorp increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Argus increased their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Piper Sandler increased their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.13.

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.