ProShare Advisors LLC Has $545.58 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

ProShare Advisors LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 86.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,739,106 shares of the wireless technology company’s stock after buying an additional 1,272,191 shares during the quarter. QUALCOMM accounts for approximately 1.5% of ProShare Advisors LLC’s holdings, making the stock its 7th largest position. ProShare Advisors LLC owned approximately 0.25% of QUALCOMM worth $545,575,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have commented on QCOM. Barclays increased their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Trading Down 2.9 %

QCOM stock opened at $168.92 on Friday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $188.51 billion, a P/E ratio of 22.70, a PEG ratio of 1.82 and a beta of 1.28. The company’s 50-day simple moving average is $172.52 and its 200-day simple moving average is $182.16.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.