Advisor OS LLC Acquires Shares of 5,533 QUALCOMM, Inc. (NASDAQ:QCOM)

Advisor OS LLC acquired a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,533 shares of the wireless technology company’s stock, valued at approximately $505,000.

A number of other large investors have also added to or reduced their stakes in QCOM. Meridian Investment Counsel Inc. boosted its holdings in shares of QUALCOMM by 0.4% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 25,101 shares of the wireless technology company’s stock valued at $2,289,000 after acquiring an additional 100 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in shares of QUALCOMM by 0.9% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 11,264 shares of the wireless technology company’s stock valued at $1,027,000 after acquiring an additional 100 shares in the last quarter. Almanack Investment Partners LLC. boosted its holdings in shares of QUALCOMM by 2.7% during the 2nd quarter. Almanack Investment Partners LLC. now owns 3,892 shares of the wireless technology company’s stock valued at $355,000 after acquiring an additional 103 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of QUALCOMM by 3.4% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock valued at $308,000 after acquiring an additional 110 shares in the last quarter. Finally, Beacon Financial Advisory LLC boosted its holdings in shares of QUALCOMM by 1.8% during the 2nd quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock valued at $583,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.

In other news, CFO Akash J. Palkhiwala sold 3,925 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total value of $401,998.50. Following the transaction, the chief financial officer now owns 17,790 shares in the company, valued at approximately $1,822,051.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven M. Mollenkopf sold 219,131 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $93.66, for a total value of $20,523,809.46. The disclosure for this sale can be found here. Insiders have sold a total of 234,148 shares of company stock valued at $21,899,420 in the last quarter. Company insiders own 0.12% of the company’s stock.

Several equities research analysts recently weighed in on QCOM shares. KeyCorp raised their price objective on QUALCOMM from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Piper Sandler raised their target price on QUALCOMM from $80.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on QUALCOMM from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating and set a $90.00 target price for the company in a research report on Friday, June 12th. Finally, Susquehanna Bancshares raised their target price on QUALCOMM from $110.00 to $125.00 in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has an average rating of “Buy” and a consensus target price of $110.87.

QUALCOMM stock traded up $3.54 during midday trading on Tuesday, reaching $117.00. The stock had a trading volume of 446,534 shares, compared to its average volume of 10,562,950. The company has a market capitalization of $128.01 billion, a P/E ratio of 49.51, a PEG ratio of 1.79 and a beta of 1.36. The company has a current ratio of 1.97, a quick ratio of 1.67 and a debt-to-equity ratio of 4.67. QUALCOMM, Inc. has a 12 month low of $58.00 and a 12 month high of $123.93. The company has a fifty day moving average price of $111.29 and a two-hundred day moving average price of $87.83.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. On average, equities research analysts predict that QUALCOMM, Inc. will post 3.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.65 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.22%. QUALCOMM’s dividend payout ratio (DPR) is currently 91.55%.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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