Roberts Wealth Advisors LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,004 shares of the wireless technology company’s stock after purchasing an additional 325 shares during the quarter. QUALCOMM makes up 1.7% of Roberts Wealth Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Roberts Wealth Advisors LLC’s holdings in QUALCOMM were worth $3,810,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Milestone Investment Advisors LLC acquired a new position in QUALCOMM in the first quarter valued at $26,000. Ruedi Wealth Management Inc. acquired a new position in QUALCOMM in the 4th quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group raised its stake in QUALCOMM by 53.9% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 90 shares during the last quarter. TD Capital Management LLC raised its stake in QUALCOMM by 118.8% during the 1st quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 120 shares during the last quarter. Finally, Pacific Center for Financial Services purchased a new position in shares of QUALCOMM in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.
QUALCOMM Price Performance
QUALCOMM stock traded down $2.22 during mid-day trading on Tuesday, hitting $110.53. 962,816 shares of the company were exchanged, compared to its average volume of 8,106,482. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $139.94. The company has a market capitalization of $121.58 billion, a P/E ratio of 14.76, a PEG ratio of 1.10 and a beta of 1.23. The business’s 50 day simple moving average is $117.12 and its two-hundred day simple moving average is $116.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.42 and a quick ratio of 1.64.
QUALCOMM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s dividend payout ratio is currently 41.88%.
Insider Transactions at QUALCOMM
In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the completion of the sale, the insider now directly owns 6,745 shares in the company, valued at $770,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the sale, the insider now owns 6,745 shares in the company, valued at $770,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 27,962 shares of QUALCOMM stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the sale, the chief technology officer now directly owns 241,369 shares in the company, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,962 shares of company stock worth $3,391,567. 0.07% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $159.00 to $148.00 in a report on Thursday, August 3rd. Bank of America boosted their price target on shares of QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. Susquehanna lowered their price objective on QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a report on Thursday, August 3rd. Wolfe Research started coverage on QUALCOMM in a research note on Wednesday, July 19th. They set an “outperform” rating and a $145.00 target price for the company. Finally, Morgan Stanley lifted their price target on QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.96.
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, application processing, multimedia, and global positioning system products.
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