560 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Elite Financial Inc.

Elite Financial Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 560 shares of the wireless technology company’s stock, valued at approximately $86,000.

Other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter worth $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter worth $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the fourth quarter worth $29,000. Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the fourth quarter worth $30,000. Finally, Wood Tarver Financial Group LLC bought a new stake in QUALCOMM in the fourth quarter worth $31,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 425,016 shares of company stock valued at $8,437,440 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Evercore ISI decreased their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Benchmark decreased their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Down 0.1%

Shares of QUALCOMM stock opened at $162.11 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $151.32 and its 200-day simple moving average is $154.93. The stock has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.20%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM’s dividend payout ratio is 36.25%.

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.