Savvy Advisors Inc. Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Savvy Advisors Inc. increased its holdings in QUALCOMM by 72.1% during the first quarter, now owning 6,862 shares valued at approximately $1,054,000.
• QUALCOMM reported an EPS of $2.77 for the last quarter, surpassing analysts' expectations of $2.71, with revenue up 10.4% year-over-year.
• The company announced a quarterly dividend of $0.89 per share, with an ex-dividend date on September 4th, reflecting an annualized dividend yield of 2.4%.

Savvy Advisors Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 72.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,862 shares of the wireless technology company's stock after purchasing an additional 2,874 shares during the period. Savvy Advisors Inc.'s holdings in QUALCOMM were worth $1,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the first quarter valued at $27,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC increased its stake in shares of 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 buying an additional 70 shares during the period. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $147.56 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The company has a market cap of $159.22 billion, a PE ratio of 14.23, a P/E/G ratio of 2.13 and a beta of 1.23. The business has a 50-day simple moving average of $155.07 and a two-hundred day simple moving average of $154.31. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10.

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

QUALCOMM Dividend Announcement

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 issued 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 dividend yield of 2.4%. QUALCOMM's payout ratio is 34.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group raised their price target on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company dropped their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $181.10.

Insider Buying and Selling

In related news, 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 completion of the sale, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares of the company's stock, valued at $6,398,956.70. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,352,355 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.