QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 58.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,122 shares of the wireless technology company's stock after purchasing an additional 8,563 shares during the period. J.W. Cole Advisors Inc.'s holdings in QUALCOMM were worth $3,552,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC lifted its position in shares of QUALCOMM by 10.0% in the 1st quarter. Eagle Bay Advisors LLC now owns 1,727 shares of the wireless technology company's stock worth $265,000 after acquiring an additional 157 shares during the period. Atlantic Union Bankshares Corp grew its stake in QUALCOMM by 18.6% in the first quarter. Atlantic Union Bankshares Corp now owns 112,693 shares of the wireless technology company's stock valued at $17,311,000 after acquiring an additional 17,642 shares during the period. WNY Asset Management LLC grew its holdings in shares of QUALCOMM by 34.1% during the first quarter. WNY Asset Management LLC now owns 2,763 shares of the wireless technology company's stock worth $424,000 after buying an additional 702 shares in the last quarter. Twin Capital Management Inc. lifted its stake in QUALCOMM by 86.8% in the 1st quarter. Twin Capital Management Inc. now owns 40,963 shares of the wireless technology company's stock valued at $6,292,000 after purchasing an additional 19,034 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its position in shares of QUALCOMM by 149.1% in the first quarter. OneAscent Financial Services LLC now owns 11,152 shares of the wireless technology company's stock valued at $1,710,000 after buying an additional 6,675 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,310,735 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent research reports. Bank of America decreased their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. TD Cowen lowered their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Evercore ISI cut their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company decreased their price target 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $186.00.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $154.80 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The business's fifty day simple moving average is $153.95 and its 200-day simple moving average is $154.99. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $196.24. The company has a market cap of $169.97 billion, a PE ratio of 15.76, a PEG ratio of 1.99 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, topping analysts' consensus estimates of $2.82 by $0.03. The business 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 business's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM's payout ratio is 36.25%.

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.

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