1,744 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Fiduciary Wealth Partners LLC

Key Points

• Fiduciary Wealth Partners LLC acquired 1,744 shares of QUALCOMM (NASDAQ:QCOM) worth approximately $268,000 in the first quarter, highlighting increased institutional interest in the company.
• Several brokerages raised their price targets for QUALCOMM, with JPMorgan Chase & Co. increasing its target from $190.00 to $200.00 and maintaining an "overweight" rating, indicating bullish sentiment among analysts.
• QUALCOMM's recent quarterly earnings report showed EPS of $2.77, surpassing analysts' expectations, alongside a year-over-year revenue increase of 10.4%, indicating strong financial performance.

Fiduciary Wealth Partners LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,744 shares of the wireless technology company's stock, valued at approximately $268,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. UBS Group boosted their target price on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an "outperform" rating in a report on Monday. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus target price of $182.48.

QUALCOMM Trading Up 1.0%

QCOM opened at $148.19 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.08 and a current ratio of 3.19. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a market cap of $162.71 billion, a P/E ratio of 14.29, a PEG ratio of 1.88 and a beta of 1.26. The business's 50-day simple moving average is $155.11 and its 200-day simple moving average is $154.93.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the company posted $2.33 earnings per share. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,324,591 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

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.

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