Riversedge Advisors LLC Has $284,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Riversedge Advisors LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,424 shares of the wireless technology company’s stock after purchasing an additional 92 shares during the quarter. Riversedge Advisors LLC’s holdings in QUALCOMM were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Kintegral Advisory LLC grew its holdings in shares of QUALCOMM by 4.9% during the 2nd quarter. Kintegral Advisory LLC now owns 11,816 shares of the wireless technology company’s stock worth $2,354,000 after purchasing an additional 555 shares in the last quarter. Beacon Financial Advisory LLC grew its holdings in shares of QUALCOMM by 23.0% during the 2nd quarter. Beacon Financial Advisory LLC now owns 3,957 shares of the wireless technology company’s stock worth $788,000 after purchasing an additional 741 shares in the last quarter. West Branch Capital LLC grew its holdings in shares of QUALCOMM by 51.0% during the 2nd quarter. West Branch Capital LLC now owns 2,134 shares of the wireless technology company’s stock worth $425,000 after purchasing an additional 721 shares in the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in shares of QUALCOMM by 6.2% during the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 1,534 shares of the wireless technology company’s stock worth $305,000 after purchasing an additional 90 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Susquehanna increased their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a report on Friday, May 3rd. Finally, Bank of America boosted their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Trading Down 1.2 %

Shares of QUALCOMM stock traded down $2.08 on Wednesday, hitting $171.85. 6,524,670 shares of the company’s stock traded hands, compared to its average volume of 9,263,589. The firm’s 50-day moving average price is $186.10 and its two-hundred day moving average price is $180.91. The stock has a market capitalization of $191.78 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

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%. On average, research analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. 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 on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.