QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,021 shares of the wireless technology company’s stock after buying an additional 174 shares during the quarter. Kovack Advisors Inc.’s holdings in QUALCOMM were worth $2,000,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in QUALCOMM in the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $159.88 on Thursday. 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 Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $189.61. The stock has a market capitalization of $175.55 billion, a P/E ratio of 16.28, a PEG ratio of 2.04 and a beta of 1.26. The company has a 50 day moving average price of $154.35 and a 200 day moving average price of $155.05.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS 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 for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the business posted $2.44 earnings per share. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Evercore ISI decreased their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average target price of $184.86.

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.