Octavia Wealth Advisors LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Octavia Wealth Advisors LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,765 shares of the wireless technology company’s stock after acquiring an additional 1,559 shares during the period. Octavia Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,144,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Naviter Wealth LLC grew its position in QUALCOMM by 1.7% in the second quarter. Naviter Wealth LLC now owns 10,547 shares of the wireless technology company’s stock worth $2,101,000 after acquiring an additional 178 shares during the period. Magnus Financial Group LLC raised its stake in QUALCOMM by 3.4% in the second quarter. Magnus Financial Group LLC now owns 2,534 shares of the wireless technology company’s stock valued at $505,000 after buying an additional 84 shares in the last quarter. Fiduciary Family Office LLC grew its holdings in shares of QUALCOMM by 17.1% during the second quarter. Fiduciary Family Office LLC now owns 7,336 shares of the wireless technology company’s stock worth $1,461,000 after purchasing an additional 1,072 shares during the last quarter. Allegheny Financial Group LTD grew its holdings in shares of QUALCOMM by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,987 shares of the wireless technology company’s stock worth $993,000 after purchasing an additional 68 shares during the last quarter. Finally, Generate Investment Management Ltd purchased a new position in shares of QUALCOMM during the second quarter worth about $7,749,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $8.42 during trading hours on Tuesday, reaching $166.88. The company’s stock had a trading volume of 2,875,660 shares, compared to its average volume of 9,256,108. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $182.82 and a 200 day simple moving average of $181.47. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market cap of $186.24 billion, a PE ratio of 22.51, a PEG ratio of 1.93 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed 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 firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on QCOM shares. Citigroup raised their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Tigress Financial lifted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.63.

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.