Donaldson Capital Management LLC Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Donaldson Capital Management LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,262 shares of the wireless technology company’s stock, valued at approximately $214,000.

Other large investors also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on QCOM shares. Benchmark started coverage on QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 price objective on the stock. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, Mizuho boosted their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Trading Up 1.4 %

Shares of QCOM stock traded up $2.36 during mid-day trading on Friday, reaching $165.66. The company’s stock had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. The company’s 50 day simple moving average is $165.84 and its 200-day simple moving average is $144.47. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The firm has a market capitalization of $184.88 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, research analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company 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 is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.05%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last 90 days. Company insiders own 0.08% of the company’s stock.

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.