Index Fund Advisors Inc. Acquires Shares of 1,328 QUALCOMM Incorporated (NASDAQ:QCOM)

Index Fund Advisors Inc. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,328 shares of the wireless technology company’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of QUALCOMM by 327.1% in 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 in the last quarter. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% during the 4th 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 in the last quarter. Finally, Aspect Partners LLC grew its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. TD Cowen lifted their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft increased their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. Finally, Mizuho lifted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

Insider Buying and Selling

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

QUALCOMM Stock Up 2.6 %

Shares of NASDAQ QCOM traded up $4.25 during mid-day trading on Wednesday, hitting $167.49. The company had a trading volume of 2,095,085 shares, compared to its average volume of 9,262,563. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a market capitalization of $186.58 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business’s 50-day simple moving average is $182.04 and its 200 day simple moving average is $181.54.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

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 given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 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.