Diversify Advisory Services LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Diversify Advisory Services LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,201 shares of the wireless technology company's stock after buying an additional 1,726 shares during the period. Diversify Advisory Services LLC's holdings in QUALCOMM were worth $2,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Management Corp VA raised its holdings in shares of QUALCOMM by 0.5% in the first quarter. Capital Management Corp VA now owns 110,484 shares of the wireless technology company's stock worth $16,971,000 after buying an additional 531 shares during the last quarter. Archer Investment Corp lifted its position in QUALCOMM by 146.2% during the first quarter. Archer Investment Corp now owns 2,770 shares of the wireless technology company's stock valued at $426,000 after purchasing an additional 1,645 shares during the period. Evergreen Wealth Management LLC lifted its position in QUALCOMM by 1.5% during the first quarter. Evergreen Wealth Management LLC now owns 12,267 shares of the wireless technology company's stock valued at $1,884,000 after purchasing an additional 185 shares during the period. Independent Wealth Network Inc. lifted its position in QUALCOMM by 58.4% during the first quarter. Independent Wealth Network Inc. now owns 2,180 shares of the wireless technology company's stock valued at $335,000 after purchasing an additional 804 shares during the period. Finally, Hardy Reed LLC lifted its position in QUALCOMM by 1.7% during the first quarter. Hardy Reed LLC now owns 7,953 shares of the wireless technology company's stock valued at $1,222,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $186.00.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's 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 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 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

Shares of QCOM stock traded up $2.19 on Friday, reaching $154.80. 7,429,971 shares of the company were exchanged, compared to its average volume of 8,482,913. The company has a market cap of $169.97 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.97 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $196.24. The business has a 50-day moving average price of $153.95 and a 200 day moving average price of $154.97. 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 (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Equities research analysts forecast 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. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.30%. QUALCOMM's payout ratio is 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.