Inspire Investing LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Inspire Investing LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 89.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,956 shares of the wireless technology company’s stock after purchasing an additional 2,335 shares during the quarter. Inspire Investing LLC’s holdings in QUALCOMM were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at $32,000. Aspect Partners LLC grew its position in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the period. McClarren Financial Advisors Inc. increased its stake in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares in the last quarter. Finally, First Pacific Financial purchased a new position in QUALCOMM during the 2nd quarter valued at about $40,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QCOM opened at $168.92 on Friday. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market cap of $188.18 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.82 and a beta of 1.28. 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 company’s 50 day moving average is $172.52 and its 200 day moving average is $182.01.

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

QUALCOMM Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. KeyCorp boosted their target price on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Company raised their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

Insider Transactions at QUALCOMM

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 transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, 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 transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.