Summit Trail Advisors LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Summit Trail Advisors LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 33.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,878 shares of the wireless technology company’s stock after buying an additional 3,256 shares during the period. Summit Trail Advisors LLC’s holdings in QUALCOMM were worth $2,565,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. WFA Asset Management Corp purchased a new position in QUALCOMM in the first quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC lifted its stake in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the first quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in QUALCOMM in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 3rd. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Trading Down 2.9 %

Shares of QCOM stock opened at $168.92 on Friday. The company has a market capitalization of $188.51 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $172.52 and a 200 day moving average price of $182.01.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, 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. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. Insiders own 0.08% of the company’s stock.

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.