Optas LLC Acquires 112 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Optas LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,445 shares of the wireless technology company’s stock after acquiring an additional 112 shares during the period. Optas LLC’s holdings in QUALCOMM were worth $922,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the fourth quarter valued at $32,000. Cherry Tree Wealth Management LLC lifted its position in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in QUALCOMM during the fourth quarter valued at $35,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $4.03 during trading hours on Friday, reaching $199.18. 15,547,484 shares of the company traded hands, compared to its average volume of 11,272,695. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a market cap of $222.28 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.30. The firm has a 50-day moving average price of $195.82 and a 200 day moving average price of $169.67.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

Insider Activity

In related news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of several analyst reports. Wolfe Research raised their price target on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Benchmark restated a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. Barclays lifted their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Susquehanna lifted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.13.

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.