MGO One Seven LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

MGO One Seven LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,028 shares of the wireless technology company's stock after buying an additional 5,032 shares during the quarter. MGO One Seven LLC's holdings in QUALCOMM were worth $3,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM in the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 1.3 %

Shares of NASDAQ:QCOM opened at $140.51 on Thursday. The firm has a market capitalization of $155.40 billion, a P/E ratio of 15.01, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a 50 day moving average price of $151.11 and a 200-day moving average price of $159.77. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.53%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is presently 36.32%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,666 shares of company stock worth $5,047,052. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QCOM shares. Citigroup dropped their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark restated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Finally, Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $201.21.

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.

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