Waverly Advisors LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Waverly Advisors LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 209.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,116 shares of the wireless technology company’s stock after acquiring an additional 16,998 shares during the quarter. Waverly Advisors LLC’s holdings in QUALCOMM were worth $4,252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Norges Bank acquired a new position in QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC raised its stake in shares of QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp grew its stake in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on QCOM shares. Wells Fargo & Company boosted their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Argus raised their price target on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Barclays raised their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna lifted their target price on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.63.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,552,835 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $9.77 on Tuesday, reaching $168.87. The company’s stock had a trading volume of 8,792,975 shares, compared to its average volume of 9,160,351. The company has a market capitalization of $188.46 billion, a P/E ratio of 22.73, a PEG ratio of 2.19 and a beta of 1.27. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a 50-day moving average price of $203.81 and a 200-day moving average price of $177.81. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Analysts expect that QUALCOMM Incorporated will post 7.84 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

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.