First Foundation Advisors Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

First Foundation Advisors boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 156,770 shares of the wireless technology company’s stock after buying an additional 45,769 shares during the period. QUALCOMM makes up about 0.9% of First Foundation Advisors’ investment portfolio, making the stock its 26th largest position. First Foundation Advisors’ holdings in QUALCOMM were worth $24,083,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of QCOM. TBH Global Asset Management LLC increased its stake in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc increased its stake in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares during the last quarter. Toth Financial Advisory Corp increased its stake in QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC increased its stake in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its stake in QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,018 shares of company stock valued at $4,955,613. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QUALCOMM stock opened at $137.58 on Thursday. The stock’s 50 day moving average is $157.89 and its 200 day moving average is $161.88. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a market capitalization of $152.16 billion, a P/E ratio of 14.70, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.47%. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on QCOM shares. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Hold” and a consensus price target of $202.64.

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.