Arkadios Wealth Advisors Acquires 23,525 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Arkadios Wealth Advisors increased its stake in QUALCOMM Incorporated by 81%, holding 52,566 shares valued at approximately $8.08 million.
• Insider trading activity includes the sale of 1,600 shares by Heather S. Ace at an average price of $137.74, marking a decrease in her holdings.
• QUALCOMM announced a quarterly dividend of $0.89 per share, with a payout ratio of 36.25%, scheduled for payment on September 25th.

Arkadios Wealth Advisors raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 81.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,566 shares of the wireless technology company's stock after purchasing an additional 23,525 shares during the period. Arkadios Wealth Advisors' holdings in QUALCOMM were worth $8,075,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of QCOM. Geode Capital Management LLC lifted its position in QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Northern Trust Corp lifted its position in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after purchasing an additional 1,424,106 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in QUALCOMM by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company's stock valued at $692,747,000 after purchasing an additional 138,257 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in QUALCOMM by 2.5% during the fourth quarter. First Trust Advisors LP now owns 4,010,518 shares of the wireless technology company's stock valued at $616,096,000 after purchasing an additional 97,343 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 1.0%

Shares of NASDAQ:QCOM traded up $1.43 during midday trading on Friday, reaching $148.19. The company's stock had a trading volume of 12,700,280 shares, compared to its average volume of 8,540,689. The firm has a 50 day moving average of $155.05 and a 200-day moving average of $155.00. The firm has a market capitalization of $162.71 billion, a P/E ratio of 14.29, a PEG ratio of 2.04 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.44%. The company's revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is 36.25%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QCOM. UBS Group lifted their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday. Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Citigroup restated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $181.91.

Insider Activity at QUALCOMM

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

QUALCOMM Company 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.