WFA Asset Management Corp Acquires Shares of 160 QUALCOMM Incorporated (NASDAQ:QCOM)

WFA Asset Management Corp bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 160 shares of the wireless technology company’s stock, valued at approximately $27,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in QUALCOMM by 0.4% in the third 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in QUALCOMM by 8.1% in 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 last quarter. Morgan Stanley boosted its position in QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the last quarter. Norges Bank purchased a new position in QUALCOMM in the fourth quarter worth $2,507,978,000. Finally, Putnam Investments LLC boosted its position in QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock worth $8,456,475. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $3.70 during mid-day trading on Wednesday, hitting $203.86. 2,401,132 shares of the company traded hands, compared to its average volume of 9,266,496. The stock’s fifty day moving average price is $197.39 and its 200-day moving average price is $170.48. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $227.51 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27.

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, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on QCOM shares. TD Cowen boosted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Barclays upped their price target on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research upped their price target on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Robert W. Baird upped their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

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.