Atlantic Union Bankshares Corp Purchases 17,642 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Atlantic Union Bankshares Corp increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,693 shares of the wireless technology company's stock after purchasing an additional 17,642 shares during the period. QUALCOMM makes up 1.0% of Atlantic Union Bankshares Corp's holdings, making the stock its 23rd biggest holding. Atlantic Union Bankshares Corp's holdings in QUALCOMM were worth $17,311,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Eagle Strategies LLC raised its holdings in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after buying an additional 59 shares in the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares in the last quarter. Umpqua Bank raised its holdings in shares of QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock valued at $264,000 after buying an additional 67 shares in the last quarter. Twin City Private Wealth LLC raised its holdings in shares of QUALCOMM by 1.4% during the 4th quarter. Twin City Private Wealth LLC now owns 4,909 shares of the wireless technology company's stock valued at $754,000 after buying an additional 67 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in shares of QUALCOMM by 2.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after buying an additional 69 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QCOM. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Evercore ISI reduced their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Finally, Benchmark reduced their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $186.00.

QUALCOMM Stock Up 1.4%

Shares of NASDAQ QCOM traded up $2.19 during mid-day trading on Friday, hitting $154.80. 7,429,971 shares of the stock traded hands, compared to its average volume of 8,480,495. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $196.24. The company has a market cap of $169.97 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.99 and a beta of 1.26. The stock has a fifty day moving average price of $153.95 and a 200-day moving average price of $154.98.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The firm's revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared 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 dividend yield of 2.30%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,310,735 over 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.