OneAscent Family Office LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

OneAscent Family Office LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 121.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,538 shares of the wireless technology company's stock after purchasing an additional 3,041 shares during the period. OneAscent Family Office LLC's holdings in QUALCOMM were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter worth $2,721,882,000. GAMMA Investing LLC grew its stake in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in QUALCOMM during the 4th quarter worth approximately $204,085,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM traded up $1.33 on Wednesday, hitting $159.32. 2,232,668 shares of the company's stock traded hands, compared to its average volume of 8,450,405. The company's 50 day simple moving average is $153.95 and its 200-day simple moving average is $154.99. The firm has a market cap of $174.93 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 2.05 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $196.24. 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 issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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 $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.23%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Bank of America cut their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Finally, Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $184.86.

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.