Zhang Financial LLC Has $747,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Zhang Financial LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,168 shares of the wireless technology company’s stock after selling 341 shares during the period. Zhang Financial LLC’s holdings in QUALCOMM were worth $747,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QCOM. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% during the third 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 during the period. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the first quarter worth $26,000. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $29,000. Pacific Center for Financial Services acquired a new stake in shares of QUALCOMM during the first quarter worth $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in QUALCOMM in the first quarter valued at about $32,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $157.63 on Friday. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The business’s 50 day moving average price is $164.87 and its two-hundred day moving average price is $142.66. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $175.92 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 the consensus estimate of $9.50 billion. On average, analysts predict that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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 dividend yield of 2.16%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. KeyCorp boosted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Mizuho upped their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.90.

About QUALCOMM

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.