QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Boosted by Investmark Advisory Group LLC

Investmark Advisory Group LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,591 shares of the wireless technology company’s stock after acquiring an additional 631 shares during the quarter. QUALCOMM makes up approximately 3.5% of Investmark Advisory Group LLC’s holdings, making the stock its 6th biggest holding. Investmark Advisory Group LLC’s holdings in QUALCOMM were worth $3,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QCOM. Joseph P. Lucia & Associates LLC purchased a new position in QUALCOMM during the first quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in QUALCOMM during the fourth quarter valued at approximately $34,000. Crewe Advisors LLC increased its holdings in QUALCOMM by 444.4% during the first quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 200 shares during the period. Activest Wealth Management increased its holdings in QUALCOMM by 117.1% during the first quarter. Activest Wealth Management now owns 267 shares of the wireless technology company’s stock valued at $41,000 after buying an additional 144 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in QUALCOMM by 58.8% in the first quarter. Tortoise Investment Management LLC now owns 270 shares of the wireless technology company’s stock valued at $41,000 after acquiring an additional 100 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QCOM stock traded down $4.30 on Friday, reaching $119.38. 472,229 shares of the company were exchanged, compared to its average volume of 6,950,391. The company has a market cap of $134.06 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 0.72 and a beta of 1.23. The business has a 50-day moving average price of $140.48 and a 200 day moving average price of $139.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61. QUALCOMM Incorporated has a 1 year low of $118.22 and a 1 year high of $193.58.

QUALCOMM (NASDAQ:QCOMGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.08. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The company had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the prior year, the company earned $1.66 EPS. QUALCOMM’s revenue was up 36.7% compared to the same quarter last year. Equities research analysts forecast that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, August 31st. This represents a $3.00 annualized dividend and a yield of 2.51%. QUALCOMM’s dividend payout ratio is presently 26.57%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $126.51, for a total value of $263,646.84. Following the transaction, the insider now directly owns 917 shares in the company, valued at approximately $116,009.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. KeyCorp raised their target price on shares of QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. Cowen set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, July 19th. Wells Fargo & Company lowered their target price on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. Finally, Piper Sandler lowered their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.04.

QUALCOMM Profile

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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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