Wedmont Private Capital Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wedmont Private Capital raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 7.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,106 shares of the wireless technology company’s stock after acquiring an additional 631 shares during the period. Wedmont Private Capital’s holdings in QUALCOMM were worth $1,599,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. St. Louis Financial Planners Asset Management LLC purchased a new stake in QUALCOMM in the first quarter valued at $1,884,000. Legacy Private Trust Co. boosted its stake in shares of QUALCOMM by 12.1% during the 1st quarter. Legacy Private Trust Co. now owns 3,084 shares of the wireless technology company’s stock worth $522,000 after acquiring an additional 332 shares in the last quarter. Abacus Wealth Partners LLC purchased a new stake in shares of QUALCOMM during the 1st quarter worth about $271,000. Czech National Bank boosted its stake in shares of QUALCOMM by 0.7% during the 1st quarter. Czech National Bank now owns 196,361 shares of the wireless technology company’s stock worth $33,244,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Signal Advisors Wealth LLC purchased a new stake in shares of QUALCOMM during the 1st quarter worth about $612,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

QCOM traded down $0.72 during trading on Friday, reaching $214.75. The company’s stock had a trading volume of 7,926,582 shares, compared to its average volume of 9,085,770. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $191.54 and a two-hundred day simple moving average of $166.34. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a market cap of $239.66 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 2.77 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. UBS Group increased their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Susquehanna increased their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Piper Sandler increased their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen upped their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $188.74.

Get Our Latest Stock Report on QUALCOMM

QUALCOMM Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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