Beacon Investment Advisory Services Inc. Has $13.06 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beacon Investment Advisory Services Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,044 shares of the wireless technology company's stock after purchasing an additional 2,892 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in QUALCOMM were worth $13,064,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Accredited Investors Inc. lifted its holdings in QUALCOMM by 5.9% in the first quarter. Accredited Investors Inc. now owns 2,458 shares of the wireless technology company's stock worth $378,000 after acquiring an additional 137 shares during the last quarter. Quadrant Private Wealth Management LLC grew its stake in QUALCOMM by 0.4% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 18,938 shares of the wireless technology company's stock worth $2,909,000 after buying an additional 82 shares during the last quarter. Proficio Capital Partners LLC increased its position in QUALCOMM by 6.8% in the first quarter. Proficio Capital Partners LLC now owns 4,484 shares of the wireless technology company's stock worth $689,000 after buying an additional 285 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of QUALCOMM by 21.2% during the first quarter. KLP Kapitalforvaltning AS now owns 602,600 shares of the wireless technology company's stock valued at $92,565,000 after acquiring an additional 105,400 shares during the period. Finally, Financial Partners Group Inc acquired a new stake in shares of QUALCOMM in the 1st quarter worth about $332,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $184.86.

Insider Activity at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,310,735. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QCOM stock traded down $1.04 during midday trading on Thursday, hitting $158.84. 5,007,384 shares of the company traded hands, compared to its average volume of 7,283,261. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $154.35 and a 200-day simple moving average of $155.05. The stock has a market capitalization of $174.41 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.64.

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

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is currently 36.25%.

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.