QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 16.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,399 shares of the wireless technology company's stock after buying an additional 12,460 shares during the quarter. EP Wealth Advisors LLC's holdings in QUALCOMM were worth $17,607,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the 2nd quarter worth $32,000. Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. Finally, First Pacific Financial bought a new stake in shares of QUALCOMM in the second quarter worth about $40,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 60,343 shares of the company's stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 60,343 shares of the company's stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on QCOM. Piper Sandler reiterated an "overweight" rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Cantor Fitzgerald restated a "neutral" rating and set a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. StockNews.com upgraded QUALCOMM from a "buy" rating to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, KeyCorp increased their price target on QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus target price of $211.67.

QUALCOMM Stock Down 0.0 %

Shares of NASDAQ QCOM traded down $0.08 during midday trading on Monday, reaching $170.05. 7,691,118 shares of the company's stock traded hands, compared to its average volume of 9,220,355. The company has a market cap of $189.78 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $104.33 and a one year 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. The stock's 50 day simple moving average is $169.66 and its 200-day simple moving average is $182.14.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, September 5th. QUALCOMM's payout ratio is 45.70%.

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.