Aspiriant LLC Purchases 3,490 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Aspiriant LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,470 shares of the wireless technology company’s stock after purchasing an additional 3,490 shares during the quarter. Aspiriant LLC’s holdings in QUALCOMM were worth $2,958,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. increased its holdings in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased 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 acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the fourth quarter valued at $32,000. Cherry Tree Wealth Management LLC increased 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 acquiring an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $35,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. Morgan Stanley increased their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Piper Sandler increased their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their price objective on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Finally, Tigress Financial increased their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling

In related news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock valued at $8,206,875. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 2.4 %

Shares of NASDAQ:QCOM opened at $197.33 on Thursday. The stock has a 50 day moving average of $193.66 and a 200 day moving average of $168.40. The company has a market cap of $220.22 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.72%. 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.