United Asset Strategies Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

United Asset Strategies Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,683 shares of the wireless technology company’s stock after acquiring an additional 312 shares during the period. United Asset Strategies Inc.’s holdings in QUALCOMM were worth $2,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of QCOM. Pine Haven Investment Counsel Inc grew its stake in QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after buying an additional 50 shares during the last quarter. Buffington Mohr McNeal grew its stake in shares of QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares during the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after acquiring an additional 57 shares in the last quarter. Macroview Investment Management LLC raised its position in shares of QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its stake in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QCOM shares. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Price Performance

QUALCOMM stock traded down $4.12 during trading on Thursday, reaching $163.50. The company had a trading volume of 2,256,885 shares, compared to its average volume of 8,933,190. The firm has a market capitalization of $182.14 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The firm’s 50-day simple moving average is $169.06 and its 200 day simple moving average is $182.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a 1-year low of $106.69 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last quarter. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.