NewEdge Advisors LLC Has $8.06 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

NewEdge Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,777 shares of the wireless technology company’s stock after purchasing an additional 5,066 shares during the period. NewEdge Advisors LLC’s holdings in QUALCOMM were worth $8,057,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Corrado Advisors LLC acquired a new position in QUALCOMM during the fourth quarter valued at $27,000. Ruedi Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group raised its position in QUALCOMM by 53.9% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 90 shares during the period. TD Capital Management LLC raised its position in QUALCOMM by 118.8% during the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 120 shares during the period. Finally, Tanglewood Legacy Advisors LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $32,000. 71.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the transaction, the insider now directly owns 6,745 shares in the company, valued at approximately $770,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Trading Up 0.7 %

QCOM stock opened at $115.39 on Friday. The business has a fifty day moving average price of $118.30 and a 200 day moving average price of $118.05. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $139.94. The stock has a market capitalization of $128.77 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.42 and a quick ratio of 1.64.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. Analysts expect that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a yield of 2.77%. QUALCOMM’s payout ratio is 41.88%.

Analyst Ratings Changes

A number of research analysts have commented on QCOM shares. Deutsche Bank Aktiengesellschaft downgraded QUALCOMM from a “buy” rating to a “hold” rating and lowered their target price for the company from $130.00 to $121.00 in a research note on Thursday, August 3rd. Rosenblatt Securities restated a “buy” rating and issued a $145.00 target price on shares of QUALCOMM in a research note on Thursday, August 3rd. Morgan Stanley boosted their target price on QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Mizuho reiterated a “buy” rating and set a $140.00 price target on shares of QUALCOMM in a research note on Wednesday, August 23rd. Finally, Bank of America upped their price target on QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.26.

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, application processing, multimedia, and global positioning system products.