2,254 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,254 shares of the wireless technology company’s stock, valued at approximately $449,000.

A number of other hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of QUALCOMM by 59.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 213,755 shares of the wireless technology company’s stock valued at $42,576,000 after purchasing an additional 79,826 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $1,338,000. Westwood Wealth Management boosted its holdings in shares of QUALCOMM by 22.6% in the 2nd quarter. Westwood Wealth Management now owns 2,708 shares of the wireless technology company’s stock valued at $539,000 after purchasing an additional 500 shares during the last quarter. Interval Partners LP boosted its holdings in shares of QUALCOMM by 12,590.0% in the 2nd quarter. Interval Partners LP now owns 10,152 shares of the wireless technology company’s stock valued at $2,022,000 after purchasing an additional 10,072 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Xponance Inc. now owns 283,479 shares of the wireless technology company’s stock valued at $56,463,000 after purchasing an additional 6,889 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were 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 directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 0.6 %

Shares of NASDAQ:QCOM opened at $166.95 on Wednesday. The company has a 50 day moving average of $170.82 and a 200-day moving average of $182.16. The firm has a market cap of $185.98 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month 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.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays lifted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $211.67.

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.