Diversify Wealth Management LLC Purchases New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Diversify Wealth Management LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,441 shares of the wireless technology company's stock, valued at approximately $2,478,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Norges Bank purchased a new position in QUALCOMM during the fourth quarter valued at $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the 1st quarter valued at $1,171,516,000. Putnam Investments LLC grew its position in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company's stock worth $917,051,000 after buying an additional 263,482 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company's stock worth $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company's stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

QCOM has been the topic of several research reports. TD Cowen boosted their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, June 4th. Wells Fargo & Company upped their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an "underweight" rating in a research note on Thursday, August 1st. HSBC lowered QUALCOMM from a "buy" rating to a "hold" rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. Robert W. Baird increased their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Finally, Hsbc Global Res lowered QUALCOMM from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.63.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $2.75 on Friday, hitting $167.73. The stock had a trading volume of 4,049,902 shares, compared to its average volume of 9,208,135. The business's 50-day simple moving average is $176.11 and its two-hundred day simple moving average is $182.05. The stock has a market cap of $186.85 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, research analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is currently 45.70%.

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.