SteelPeak Wealth LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SteelPeak Wealth LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,551 shares of the wireless technology company’s stock after buying an additional 11,138 shares during the period. QUALCOMM comprises approximately 1.2% of SteelPeak Wealth LLC’s holdings, making the stock its 18th largest holding. SteelPeak Wealth LLC’s holdings in QUALCOMM were worth $24,811,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter worth about $2,507,978,000. International Assets Investment Management LLC lifted its holdings in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $238,770,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QCOM shares. Susquehanna lifted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Piper Sandler lifted their price target on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,185 shares of company stock worth $6,860,715. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QCOM stock opened at $199.18 on Monday. The business’s 50-day moving average is $195.82 and its two-hundred day moving average is $169.67. The firm has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for 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%. Analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, May 30th. 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.