QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lifted by NewEdge Advisors LLC

NewEdge Advisors LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 33.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 79,506 shares of the wireless technology company’s stock after acquiring an additional 19,744 shares during the period. NewEdge Advisors LLC’s holdings in QUALCOMM were worth $15,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Richardson Capital Management LLC acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $39,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. 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 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $170.13 on Monday. The stock has a market cap of $189.52 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average price of $169.66 and a 200 day moving average price of $182.14.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were given a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Susquehanna raised their target price on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.