Inspire Investing LLC Has $5.36 Million Stock Position in QUALCOMM Incorporated $QCOM

Key Points

• Inspire Investing LLC increased its position in QUALCOMM by 78.7% in Q1 2023, owning 34,918 shares valued at approximately $5.36 million at the end of the reporting period.
• Several hedge funds have also significantly boosted their holdings in QUALCOMM during the same period, with 74.35% of the stock currently owned by institutional investors.
• QUALCOMM recently declared a quarterly dividend of $0.89 per share, equating to a 2.2% dividend yield and highlighting a steady financial performance with a net margin of 26.77%.

Inspire Investing LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 78.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,918 shares of the wireless technology company's stock after buying an additional 15,374 shares during the quarter. QUALCOMM makes up approximately 0.6% of Inspire Investing LLC's portfolio, making the stock its 27th largest position. Inspire Investing LLC's holdings in QUALCOMM were worth $5,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of QUALCOMM by 70.0% during the first 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 period. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 93 shares during the period. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the first quarter worth approximately $27,000. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $156.86, for a total transaction of $522,814.38. Following the transaction, the chief financial officer owned 39,874 shares of the company's stock, valued at approximately $6,254,635.64. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Patricia Y. Grech sold 236 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $158.36, for a total transaction of $37,372.96. Following the transaction, the chief accounting officer directly owned 677 shares in the company, valued at $107,209.72. This trade represents a 25.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,626 shares of company stock worth $1,948,054. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Arete upgraded shares of QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price target for the company in a report on Tuesday, August 26th. Citigroup restated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Bank of America decreased their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. UBS Group lifted their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $182.82.

QUALCOMM Trading Up 1.6%

NASDAQ:QCOM opened at $161.51 on Friday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The firm has a market cap of $174.27 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 2.31 and a beta of 1.21. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The company's 50 day moving average is $156.40 and its 200-day moving average is $152.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

QUALCOMM 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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