Wescott Financial Advisory Group LLC Makes New $449,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Wescott Financial Advisory Group LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, Holdings Channel reports. The firm purchased 2,254 shares of the wireless technology company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC grew its holdings in QUALCOMM by 71.8% during the second 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 period. McClarren Financial Advisors Inc. grew its holdings in 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 during the period. Finally, First Pacific Financial acquired a new position in QUALCOMM during the second quarter valued at approximately $40,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.6 %

QCOM stock opened at $166.95 on Wednesday. The stock has a market capitalization of $185.98 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a 50-day moving average price of $170.82 and a 200-day moving average price of $182.16.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QCOM shares. Susquehanna boosted their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.