Impact Partnership Wealth LLC Takes $1.01 Million Position in QUALCOMM Incorporated $QCOM

Impact Partnership Wealth LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,312 shares of the wireless technology company’s stock, valued at approximately $1,005,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of QUALCOMM by 656,661.0% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after buying an additional 58,764,593 shares during the period. Nuveen LLC bought a new position in QUALCOMM in the first quarter worth about $529,713,000. Goldman Sachs Group Inc. boosted its stake in QUALCOMM by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock valued at $1,114,403,000 after acquiring an additional 1,407,797 shares during the period. Deutsche Bank AG grew its holdings in shares of QUALCOMM by 11.2% during the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock valued at $1,331,170,000 after purchasing an additional 875,412 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of QUALCOMM by 84.6% during the 1st quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company’s stock worth $230,444,000 after purchasing an additional 707,615 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Piper Sandler reduced their price target on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Sanford C. Bernstein set a $185.00 target price on shares of QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.95.

Insider Activity at QUALCOMM

In other news, CEO Cristiano R. Amon sold 150,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the sale, the chief executive officer owned 149,304 shares of the company’s stock, valued at $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 791 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $154.82, for a total value of $122,462.62. Following the transaction, the chief accounting officer directly owned 1,106 shares in the company, valued at $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 168,102 shares of company stock worth $27,706,855. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $178.67 on Thursday. The business has a 50 day moving average price of $164.93 and a two-hundred day moving average price of $156.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a market capitalization of $192.78 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $205.95.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

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.