Assetmark Inc. Boosts Stock Position in QUALCOMM Incorporated $QCOM

Assetmark Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 653,685 shares of the wireless technology company’s stock after buying an additional 77,008 shares during the quarter. Assetmark Inc. owned about 0.06% of QUALCOMM worth $104,106,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. HBK Sorce Advisory LLC raised its stake in shares of QUALCOMM by 2.6% in the second quarter. HBK Sorce Advisory LLC now owns 20,941 shares of the wireless technology company’s stock valued at $3,335,000 after buying an additional 524 shares during the period. Arkadios Wealth Advisors raised its stake in shares of QUALCOMM by 12.7% in the second quarter. Arkadios Wealth Advisors now owns 59,246 shares of the wireless technology company’s stock valued at $9,436,000 after buying an additional 6,680 shares during the period. World Investment Advisors raised its stake in shares of QUALCOMM by 4.0% in the second quarter. World Investment Advisors now owns 55,283 shares of the wireless technology company’s stock valued at $8,804,000 after buying an additional 2,126 shares during the period. Flagship Harbor Advisors LLC raised its stake in shares of QUALCOMM by 2.3% in the second quarter. Flagship Harbor Advisors LLC now owns 6,695 shares of the wireless technology company’s stock valued at $1,066,000 after buying an additional 152 shares during the period. Finally, Daymark Wealth Partners LLC raised its stake in shares of QUALCOMM by 0.6% in the second quarter. Daymark Wealth Partners LLC now owns 126,839 shares of the wireless technology company’s stock valued at $20,200,000 after buying an additional 695 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Tuesday. Arete Research set a $200.00 target price on QUALCOMM in a research note on Tuesday, August 26th. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. Mizuho decreased their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Finally, Arete upgraded QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $183.95.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $178.67 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. The firm has a market cap of $192.78 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.63 and a beta of 1.23. The business’s fifty day moving average is $164.93 and its 200 day moving average is $156.11.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s dividend payout ratio is currently 34.33%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 8,335 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $166.06, for a total value of $1,384,110.10. Following the transaction, the chief financial officer directly owned 36,541 shares in the company, valued at $6,067,998.46. This represents a 18.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 168,102 shares of company stock worth $27,706,855. 0.08% of the stock is owned by corporate insiders.

QUALCOMM 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.