QUALCOMM Incorporated $QCOM Stock Holdings Increased by Legacy Financial Advisors Inc.

Key Points

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Legacy Financial Advisors Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 26.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,949 shares of the wireless technology company's stock after acquiring an additional 1,675 shares during the quarter. Legacy Financial Advisors Inc.'s holdings in QUALCOMM were worth $1,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its position 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 acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter valued at approximately $30,000. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Susquehanna lowered their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Bank of America lowered their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group increased their price target on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $181.10.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This trade represents a 7.02% 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 valued at $8,352,355 over the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 0.7%

Shares of QCOM stock opened at $158.90 on Tuesday. The stock has a market cap of $171.45 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The stock has a fifty day moving average price of $155.80 and a 200 day moving average price of $153.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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 firm had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business earned $2.33 earnings per share. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

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.

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