QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 125.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,019 shares of the wireless technology company’s stock after buying an additional 2,797 shares during the quarter. OneAscent Financial Services LLC’s holdings in QUALCOMM were worth $850,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank OH acquired a new position in QUALCOMM in the 4th quarter worth approximately $219,000. Bank Hapoalim BM boosted its stake in shares of QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the period. NewEdge Wealth LLC boosted its stake in shares of QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares during the period. 1834 Investment Advisors Co. boosted its stake in shares of QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after buying an additional 2,818 shares during the period. Finally, Alexander Randolph Advisory Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $305,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were 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 in the company, valued at $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,206,875 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on QCOM shares. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research note on Friday, May 3rd. Argus lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Susquehanna lifted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. HSBC lifted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $199.18 on Friday. The stock has a market cap of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30. The company’s 50-day simple moving average is $195.82 and its 200 day simple moving average is $169.45. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

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

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. QUALCOMM’s payout ratio is 45.70%.

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.