Private Advisor Group LLC Has $15.24 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Private Advisor Group LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,210 shares of the wireless technology company's stock after acquiring an additional 7,786 shares during the quarter. Private Advisor Group LLC's holdings in QUALCOMM were worth $15,240,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of QCOM. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in 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 valued at $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new position in QUALCOMM during the first quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the fourth quarter valued at $30,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock traded up $2.19 during mid-day trading on Friday, reaching $154.80. The company's stock had a trading volume of 7,429,971 shares, compared to its average volume of 8,480,495. 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 Incorporated has a twelve month low of $120.80 and a twelve month high of $196.24. The business has a 50 day moving average price of $153.95 and a 200-day moving average price of $154.98. The firm has a market cap of $169.97 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.00 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 earnings per share. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS 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 issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.30%. QUALCOMM's payout ratio is presently 36.25%.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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. In the last quarter, insiders have sold 424,099 shares of company stock worth $8,310,735. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut 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. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Susquehanna dropped their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus price target of $186.00.

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.