Cetera Investment Advisers Purchases 20,137 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cetera Investment Advisers boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 535,930 shares of the wireless technology company's stock after acquiring an additional 20,137 shares during the quarter. Cetera Investment Advisers' holdings in QUALCOMM were worth $82,324,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter worth about $27,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in 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 purchasing an additional 70 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.3%

Shares of NASDAQ QCOM opened at $158.40 on Friday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64. The firm's 50-day simple moving average is $154.60 and its 200 day simple moving average is $155.03. 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 company has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Analyst Ratings Changes

A number of analysts have recently weighed in on QCOM shares. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. TD Cowen dropped their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital dropped their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup reissued a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $184.86.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated 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 owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

About QUALCOMM

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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