Steward Partners Investment Advisory LLC Increases Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Steward Partners Investment Advisory LLC has increased its holdings in QUALCOMM Incorporated by 3.6%, bringing its total stake to 93,168 shares valued at approximately $14.31 million as reported in its recent SEC filing.
• QUALCOMM recently reported earnings of $2.77 EPS for the quarter, exceeding estimates and showing a 10.4% increase in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.89 per share, with a dividend yield of 2.3% and a payout ratio of 34.33%.

Steward Partners Investment Advisory LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,168 shares of the wireless technology company's stock after purchasing an additional 3,202 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in QUALCOMM were worth $14,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Banque Transatlantique SA purchased a new stake in QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% in the 1st 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 purchased a new stake in shares of QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. 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. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. 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 research report on Friday, May 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $181.10.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred 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 owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. 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 the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,352,355 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.7%

NASDAQ QCOM traded up $1.05 on Monday, hitting $158.90. The company's stock had a trading volume of 4,770,266 shares, compared to its average volume of 8,752,932. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The company's 50-day simple moving average is $155.80 and its 200 day simple moving average is $153.38. The firm has a market cap of $171.45 billion, a P/E ratio of 15.32, a PEG ratio of 2.30 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.06. The business 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 revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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

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.