EverSource Wealth Advisors LLC Has $1.54 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• EverSource Wealth Advisors LLC increased its stake in QUALCOMM by 33.4% in Q1, owning 10,011 shares valued at approximately $1.54 million as of the end of the quarter.
• An insider at QUALCOMM sold 1,600 shares at an average price of $146.40, reducing their overall stake by 7.02% amidst a broader trend where insiders sold 424,099 shares valued at over $8.35 million in the last three months.
• QUALCOMM reported $2.77 EPS for the last quarter, exceeding analyst expectations, and declared a quarterly dividend of $0.89 per share with a yield of 2.3%.

EverSource Wealth Advisors LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,011 shares of the wireless technology company's stock after purchasing an additional 2,504 shares during the period. EverSource Wealth Advisors LLC's holdings in QUALCOMM were worth $1,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after acquiring an additional 105,631 shares during the period. PFG Advisors grew its holdings in QUALCOMM by 8.0% during the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock worth $663,000 after acquiring an additional 321 shares during the period. Teza Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after acquiring an additional 6,017 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in QUALCOMM by 12.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock worth $203,904,000 after acquiring an additional 145,509 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a report 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. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group lifted their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $181.10.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Down 0.2%

Shares of NASDAQ:QCOM opened at $157.85 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The company's fifty day simple moving average is $155.73 and its 200 day simple moving average is $153.73. The firm has a market cap of $170.32 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.30 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the firm posted $2.33 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM's payout ratio is 34.33%.

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.

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