2,059 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by OneAscent Investment Solutions LLC

Key Points

• OneAscent Investment Solutions LLC has acquired 2,059 shares of QUALCOMM, valued at approximately $316,000, in the first quarter, indicating continued interest from institutional investors.
• QUALCOMM recently reported an EPS of $2.77, beating estimates, along with a revenue of $10.37 billion, reflecting a 10.4% year-over-year increase.
• The company will pay a quarterly dividend of $0.89 on September 25th, which translates to an annualized dividend yield of 2.3%.

OneAscent Investment Solutions LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,059 shares of the wireless technology company's stock, valued at approximately $316,000.

Several other large investors have also recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter worth $27,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings in QUALCOMM by 70.0% in 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. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the fourth quarter worth $30,000. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at $6,398,956.70. The trade was a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock valued at $8,352,355. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QCOM stock traded up $1.50 during mid-day trading on Thursday, hitting $158.09. The company had a trading volume of 6,287,459 shares, compared to its average volume of 8,781,626. The firm has a market cap of $170.58 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The stock's fifty day moving average price is $155.56 and its two-hundred day moving average price is $153.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed 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 2.3%. QUALCOMM's payout ratio is currently 34.33%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QCOM. JPMorgan Chase & Co. lifted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Mizuho reduced their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Bank of America reduced their price objective 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. Finally, Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $181.10.

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.