Souders Financial Advisors Acquires 288 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Souders Financial Advisors boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,621 shares of the wireless technology company’s stock after purchasing an additional 288 shares during the period. Souders Financial Advisors’ holdings in QUALCOMM were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter worth approximately $27,000. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the period. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 over the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.4%

Shares of QUALCOMM stock opened at $154.80 on Monday. The company’s 50 day moving average price is $153.95 and its 200-day moving average price is $154.99. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $196.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a market capitalization of $169.97 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Citigroup restated a “hold” rating on shares of QUALCOMM in a report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average price target of $186.00.

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.