Gateway Wealth Partners LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Gateway Wealth Partners LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,362 shares of the wireless technology company’s stock after purchasing an additional 97 shares during the quarter. Gateway Wealth Partners LLC’s holdings in QUALCOMM were worth $670,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of QCOM. Legal & General Group Plc raised its position in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares in the last quarter. City Holding Co. grew its stake in shares of QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after buying an additional 199 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after buying an additional 534,176 shares during the period. BNP Paribas bought a new stake in shares of QUALCOMM during the 1st quarter worth approximately $3,104,000. Finally, SWP Financial LLC purchased a new position in QUALCOMM during the 4th quarter valued at $593,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.5 %

QCOM stock opened at $170.13 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $169.66 and a 200 day moving average of $182.14. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market capitalization of $189.52 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.83 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 analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’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 sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QCOM shares. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note 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, September 24th. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Tigress Financial lifted their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $211.67.

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.