Legacy Financial Advisors Inc. Has $1.35 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Financial Advisors Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,786 shares of the wireless technology company’s stock after buying an additional 1,208 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in QUALCOMM were worth $1,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the 1st quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA grew its position in QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM in the first quarter valued at $238,770,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $168.92 on Friday. 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 stock’s 50 day moving average is $172.52 and its 200-day moving average is $182.01. 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 (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The company 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%. Equities research analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

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

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QCOM shares. Susquehanna increased their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM 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.