Investors Asset Management of Georgia Inc. GA ADV Acquires Shares of 1,727 QUALCOMM Incorporated (NASDAQ:QCOM)

Investors Asset Management of Georgia Inc. GA ADV bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,727 shares of the wireless technology company's stock, valued at approximately $265,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC grew its holdings in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi grew its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 0.1%

QCOM stock traded down $0.22 during trading on Friday, hitting $162.11. 4,280,773 shares of the company's stock were exchanged, compared to its average volume of 8,538,196. The business has a 50-day moving average price of $151.32 and a two-hundred day moving average price of $154.93. The stock has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were paid a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.20%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $186.96.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 425,016 shares of company stock worth $8,437,440. 0.08% of the stock is owned by insiders.

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.