Vestmark Advisory Solutions Inc. Acquires 6,936 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in QUALCOMM by 92.1% in Q1, acquiring an additional 6,936 shares, bringing its total shares to 14,466 valued at approximately $2.22 million.
• QUALCOMM announced a quarterly dividend of $0.89 per share, with the ex-dividend date set for September 4th, representing an annualized yield of 2.3%.
• Several institutional investors have significantly expanded their stakes in QUALCOMM, with Nuveen LLC acquiring a new position worth about $529.71 million in the first quarter.

Vestmark Advisory Solutions Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 92.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,466 shares of the wireless technology company's stock after purchasing an additional 6,936 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in QUALCOMM were worth $2,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new position in QUALCOMM during the 1st quarter valued at approximately $529,713,000. GAMMA Investing LLC grew 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 valued at $501,192,000 after buying an additional 3,247,068 shares in the last quarter. Northern Trust Corp grew 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 valued at $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 valued at $1,502,509,000 after buying an additional 1,424,106 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew 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 valued at $1,114,403,000 after buying an additional 1,407,797 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business'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. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were 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. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.2%

Shares of NASDAQ QCOM opened at $157.85 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $153.73. The firm has a market cap of $170.32 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.

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

QUALCOMM Announces Dividend

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 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 34.33%.

Analyst Ratings Changes

Several equities analysts have weighed in on QCOM shares. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Citigroup restated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $181.10.

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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