Heritage Wealth Management Inc. Acquires Shares of 7,479 QUALCOMM Incorporated (NASDAQ:QCOM)

Heritage Wealth Management Inc. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,479 shares of the wireless technology company’s stock, valued at approximately $1,539,000.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. City Holding Co. raised its stake in shares of QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after acquiring an additional 534,176 shares during the last quarter. BNP Paribas bought a new position in shares of QUALCOMM in the first quarter valued at approximately $3,104,000. Finally, SWP Financial LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $593,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $165.78 on Wednesday. The company has a market capitalization of $185.01 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company’s 50 day moving average price is $168.61 and its two-hundred day moving average price is $182.15.

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Ratings Changes

A number of research firms have recently issued reports on QCOM. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Robert W. Baird boosted their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup boosted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

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.