Focus Financial Network Inc. Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Focus Financial Network Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,510 shares of the wireless technology company’s stock after purchasing an additional 456 shares during the quarter. Focus Financial Network Inc.’s holdings in QUALCOMM were worth $864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC grew its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. Finally, Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QCOM shares. Robert W. Baird raised their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Benchmark restated a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. TD Cowen raised their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Price Performance

NASDAQ QCOM traded down $2.15 on Tuesday, reaching $172.11. The company had a trading volume of 6,215,243 shares, compared to its average volume of 9,358,906. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $192.07 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.84 and a beta of 1.27. The firm’s 50 day moving average price is $191.58 and its 200 day moving average price is $179.81. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is currently 45.70%.

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.