Nichols & Pratt Advisers LLP MA Has $29.57 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Nichols & Pratt Advisers LLP MA lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,441 shares of the wireless technology company’s stock after selling 214 shares during the quarter. QUALCOMM makes up about 2.0% of Nichols & Pratt Advisers LLP MA’s holdings, making the stock its 19th largest position. Nichols & Pratt Advisers LLP MA’s holdings in QUALCOMM were worth $29,566,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QCOM. Beacon Capital Management LLC raised its holdings in shares of QUALCOMM by 26.4% in the 2nd quarter. Beacon Capital Management LLC now owns 718 shares of the wireless technology company’s stock worth $143,000 after purchasing an additional 150 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of QUALCOMM by 17.7% in the second quarter. Atlantic Union Bankshares Corp now owns 92,969 shares of the wireless technology company’s stock worth $18,518,000 after buying an additional 13,988 shares in the last quarter. McAdam LLC boosted its position in shares of QUALCOMM by 6.8% in the second quarter. McAdam LLC now owns 1,704 shares of the wireless technology company’s stock valued at $339,000 after acquiring an additional 109 shares during the period. LRI Investments LLC grew its stake in QUALCOMM by 601.2% during the second quarter. LRI Investments LLC now owns 1,823 shares of the wireless technology company’s stock valued at $363,000 after acquiring an additional 1,563 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $131,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $4.50 during trading hours on Friday, reaching $173.50. The company had a trading volume of 6,823,561 shares, compared to its average volume of 9,308,624. The firm has a market cap of $193.63 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.89 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 company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average price is $188.22 and its 200-day moving average price is $180.36.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’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 completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, 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 value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the subject of several research reports. Robert W. Baird upped their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Bank of America lifted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

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.