Heritage Wealth Management Inc. Makes New $1.54 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Heritage Wealth Management Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,479 shares of the wireless technology company's stock, valued at approximately $1,539,000.

Several other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock worth $1,999,114,000 after purchasing an additional 86,195 shares during the last quarter. City Holding Co. boosted its position in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company's stock valued at $996,000 after acquiring an additional 199 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of QUALCOMM by 173.3% during the 2nd quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company's stock valued at $167,781,000 after purchasing an additional 534,176 shares during the last quarter. BNP Paribas bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $3,104,000. Finally, SWP Financial LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $593,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on QCOM. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Piper Sandler reissued an "overweight" rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. TD Cowen raised shares of QUALCOMM to a "strong-buy" rating in a research report on Monday, September 16th. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Finally, Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.67.

QUALCOMM Stock Up 1.5 %

QCOM stock traded up $2.54 during midday trading on Wednesday, hitting $168.32. The stock had a trading volume of 4,482,759 shares, compared to its average volume of 9,190,903. The firm has a market cap of $187.51 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. The business has a 50-day moving average of $168.61 and a two-hundred day moving average of $182.15. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were given a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM's dividend payout ratio is presently 45.70%.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,245 shares of company stock worth $4,296,237. 0.08% of the stock is owned by insiders.

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.