Hudson Valley Investment Advisors Inc. ADV Purchases 1,153 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 72.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,753 shares of the wireless technology company’s stock after buying an additional 1,153 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in QUALCOMM were worth $548,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM in the 4th quarter worth $32,000. Cherry Tree Wealth Management LLC grew its position in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the period. Finally, Cranbrook Wealth Management LLC grew its position in QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen raised their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Susquehanna raised their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. KeyCorp raised their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Trading Down 0.9 %

QCOM stock traded down $1.36 during midday trading on Monday, hitting $157.95. 12,711,324 shares of the company’s stock were exchanged, compared to its average volume of 9,451,461. The business has a 50-day simple moving average of $200.91 and a two-hundred day simple moving average of $178.59. The company has a current ratio of 2.39, a quick ratio of 1.98 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $175.96 billion, a PE ratio of 21.13, a P/E/G ratio of 1.99 and a beta of 1.27. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the transaction, the chief financial officer now owns 66,343 shares in the company, valued at approximately $11,987,516.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s 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 available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the sale, the chief financial officer now directly owns 66,343 shares in the company, valued at approximately $11,987,516.67. The disclosure for this sale can be found here. Insiders have sold 43,129 shares of company stock worth $8,014,436 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.