HCR Wealth Advisors Acquires 126 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

HCR Wealth Advisors boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,385 shares of the wireless technology company’s stock after acquiring an additional 126 shares during the quarter. HCR Wealth Advisors’ holdings in QUALCOMM were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter valued at $2,507,978,000. Matrix Capital Management Company LP bought a new stake in QUALCOMM during the 1st quarter worth about $1,171,516,000. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp boosted its stake in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $238,770,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $160.77 on Tuesday. The company has a market capitalization of $179.10 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.74 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. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock’s 50 day moving average is $179.17 and its 200-day moving average is $181.80.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s payout ratio is presently 45.70%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.63.

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.