OneAscent Family Office LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

OneAscent Family Office LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 121.8% in the first quarter, Holdings Channel reports. The institutional investor owned 5,538 shares of the wireless technology company’s stock after acquiring an additional 3,041 shares during the quarter. OneAscent Family Office LLC’s holdings in QUALCOMM were worth $850,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock worth $19,098,000 after purchasing an additional 105,631 shares during the period. Teza Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company’s stock valued at $28,979,000 after buying an additional 6,017 shares during the last quarter. Kanawha Capital Management LLC grew its position in shares of QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company’s stock valued at $13,120,000 after buying an additional 1,573 shares during the last quarter. Finally, First Foundation Advisors raised its stake in QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock worth $24,083,000 after acquiring an additional 45,769 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.4%

QCOM opened at $154.80 on Friday. The stock’s fifty day moving average is $153.95 and its 200-day moving average is $154.98. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $196.24. The company has a market capitalization of $169.97 billion, a PE ratio of 15.76, a P/E/G ratio of 2.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the company earned $2.44 EPS. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.30%. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares of the company’s stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock worth $8,310,735. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on QUALCOMM from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Finally, TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $186.00.

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.