Sax Wealth Advisors LLC Takes $310,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sax Wealth Advisors LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,557 shares of the wireless technology company’s stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM in the 4th quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC boosted its position in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total value of $1,539,081.00. The disclosure for this sale can be found here. Insiders sold a total of 31,285 shares of company stock valued at $5,871,215 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QCOM shares. Susquehanna upped their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Citigroup raised their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, KeyCorp increased their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $0.47 on Friday, reaching $164.48. The stock had a trading volume of 4,824,606 shares, compared to its average volume of 10,988,206. The stock has a market cap of $183.56 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The business’s 50-day moving average price is $196.15 and its 200 day moving average price is $178.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.