QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Increased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,841 shares of the wireless technology company’s stock after buying an additional 121 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in QUALCOMM were worth $989,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of QUALCOMM by 8.1% during the 4th 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 acquiring an additional 1,909,025 shares in the last quarter. Morgan Stanley boosted its stake in shares of QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares in the last quarter. Norges Bank acquired a new position in shares of QUALCOMM in the 4th quarter worth $2,507,978,000. Finally, Putnam Investments LLC lifted its holdings in shares of QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM traded up $3.65 on Thursday, reaching $203.81. 4,996,211 shares of the stock traded hands, compared to its average volume of 10,966,074. The stock’s 50-day moving average price is $198.20 and its 200-day moving average price is $170.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a market cap of $227.45 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.43 and a beta of 1.27. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Bank of America upped 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. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler increased their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird upped their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Transactions at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,185 shares of company stock valued at $7,936,005. Corporate insiders own 0.08% of the company’s stock.

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.