RWA Wealth Partners LLC Purchases 40,609 Shares of QUALCOMM Incorporated $QCOM

Key Points

• RWA Wealth Partners LLC has increased its stake in QUALCOMM Incorporated by 22% after purchasing 40,609 additional shares, bringing its total holdings to 224,868 shares valued at approximately $34.54 million.
• Several institutional investors have also strengthened their positions in QUALCOMM, including Nuveen LLC which invested $529.7 million, and GAMMA Investing LLC which increased its holdings by over 20,700% during the same period.
• QUALCOMM recently reported a quarterly earnings per share of $2.77, surpassing analysts' expectations, and declared a quarterly dividend of $0.89, reflecting a yield of 2.3%.

RWA Wealth Partners LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 22.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,868 shares of the wireless technology company's stock after purchasing an additional 40,609 shares during the period. RWA Wealth Partners LLC's holdings in QUALCOMM were worth $34,542,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of QCOM. Nuveen LLC purchased a new position in QUALCOMM during the 1st quarter worth $529,713,000. GAMMA Investing LLC increased its holdings in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the period. Northern Trust Corp increased its holdings in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in QUALCOMM by 17.0% during 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 worth $1,502,509,000 after purchasing an additional 1,424,106 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in QUALCOMM by 24.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock worth $1,114,403,000 after purchasing an additional 1,407,797 shares during the period. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, July 31st. Mizuho reduced their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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 Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at approximately $6,398,956.70. The trade was a 7.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The stock was 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 90 days, insiders sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 0.2%

QUALCOMM stock opened at $157.85 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The stock has a market capitalization of $170.32 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.30 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The business has a fifty day moving average price of $155.73 and a 200-day moving average price of $153.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates 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%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 EPS. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared 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 of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.3%. QUALCOMM's payout ratio is currently 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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