WFA Asset Management Corp Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

WFA Asset Management Corp purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 160 shares of the wireless technology company’s stock, valued at approximately $27,000.

Several other large investors also recently bought and sold shares of the stock. Grandview Asset Management LLC grew its holdings in shares of QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. grew its holdings in shares of QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the last quarter. VERITY Wealth Advisors grew its holdings in shares of QUALCOMM by 0.8% during the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its holdings in shares of QUALCOMM by 1.2% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 66 shares during the last quarter. Finally, Transform Wealth LLC grew its holdings in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the firm’s 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 transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,456,475 over the last three months. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on QCOM shares. Wolfe Research upped their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Bank of America boosted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Citigroup raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Tigress Financial increased their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Trading Up 2.3 %

Shares of QCOM traded up $4.55 during midday trading on Wednesday, hitting $204.71. The stock had a trading volume of 2,545,758 shares, compared to its average volume of 9,266,496. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The business has a 50-day simple moving average of $197.39 and a two-hundred day simple moving average of $170.48. The firm has a market cap of $228.46 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

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.