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Atria Investments Inc Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM logo with Computer and Technology background

Atria Investments Inc grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,943 shares of the wireless technology company's stock after acquiring an additional 7,976 shares during the period. Atria Investments Inc's holdings in QUALCOMM were worth $18,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Eagle Strategies LLC grew its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. boosted its holdings in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of QUALCOMM by 2.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after purchasing an additional 69 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its position 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 worth $26,000 after buying an additional 70 shares during the last quarter. Finally, Circle Wealth Management LLC increased its stake in shares of QUALCOMM by 1.0% during the fourth quarter. Circle Wealth Management LLC now owns 7,176 shares of the wireless technology company's stock valued at $1,102,000 after buying an additional 74 shares during the period. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QCOM. Wall Street Zen raised QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday. Benchmark decreased 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. JPMorgan Chase & Co. lifted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Evercore ISI reduced their price target on shares of 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, Wells Fargo & Company lowered their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $184.86.

Get Our Latest Analysis on QCOM

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.44 during trading hours on Friday, reaching $158.40. 4,805,669 shares of the company traded hands, compared to its average volume of 7,220,092. The firm has a 50-day moving average price of $154.60 and a 200 day moving average price of $155.03. The company has a market cap of $173.92 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64.

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

QUALCOMM Announces Dividend

The firm also recently announced 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 2.25%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

QUALCOMM Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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