QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,070 shares of the wireless technology company's stock after purchasing an additional 2,599 shares during the quarter. Independent Advisor Alliance's holdings in QUALCOMM were worth $7,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Nuveen LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at $529,713,000. GAMMA Investing LLC grew its position in shares of QUALCOMM by 20,700.4% in 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 buying an additional 3,247,068 shares during the last quarter. Northern Trust Corp grew its position in shares of 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 buying an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of QUALCOMM by 17.0% in 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 valued at $1,502,509,000 after buying an additional 1,424,106 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of QUALCOMM by 24.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock valued at $1,114,403,000 after buying an additional 1,407,797 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. UBS Group raised their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $181.10.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,352,355. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.1%

QCOM stock opened at $147.56 on Monday. The company has a market cap of $159.22 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.15 and a beta of 1.23. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company's 50-day moving average price is $155.07 and its 200 day moving average price is $154.06. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 earnings per share. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's payout ratio is presently 34.33%.

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.

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