Riversedge Advisors LLC Acquires 92 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Riversedge Advisors LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,424 shares of the wireless technology company’s stock after acquiring an additional 92 shares during the period. Riversedge Advisors LLC’s holdings in QUALCOMM were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of QCOM. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $296,000. Citizens Financial Group Inc. RI lifted its stake in shares of QUALCOMM by 24.9% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,809 shares of the wireless technology company’s stock worth $696,000 after buying an additional 960 shares in the last quarter. Valmark Advisers Inc. lifted its stake in shares of QUALCOMM by 36.9% in the fourth quarter. Valmark Advisers Inc. now owns 2,876 shares of the wireless technology company’s stock worth $416,000 after buying an additional 775 shares in the last quarter. Bank OZK bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $222,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $666,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QCOM shares. Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Trading Down 1.2 %

QCOM stock traded down $2.08 during trading on Wednesday, hitting $171.85. The company had a trading volume of 6,524,670 shares, compared to its average volume of 9,263,589. The firm has a market capitalization of $191.78 billion, a P/E ratio of 23.10, a PEG ratio of 1.89 and a beta of 1.27. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a 50 day simple moving average of $186.10 and a 200-day simple moving average of $180.91. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) 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.