QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 103.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,130 shares of the wireless technology company’s stock after buying an additional 1,593 shares during the period. Clarity Wealth Advisors LLC’s holdings in QUALCOMM were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC boosted its stake in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. boosted its stake in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in QUALCOMM in the first quarter valued at approximately $238,770,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the sale, the chief technology officer now directly owns 261,893 shares in the company, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $4.03 during midday trading on Friday, reaching $199.18. The stock had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. The firm has a fifty day simple moving average of $195.82 and a two-hundred day simple moving average of $169.67. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock 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.

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. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on QCOM shares. Susquehanna raised their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.13.

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.