Beacon Investment Advisory Services Inc. Has $13.59 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beacon Investment Advisory Services Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 1st quarter, HoldingsChannel reports. The fund owned 80,282 shares of the wireless technology company’s stock after selling 727 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in QUALCOMM were worth $13,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Peoples Bank OH bought a new stake in QUALCOMM in the fourth quarter valued at approximately $219,000. Bank Hapoalim BM boosted its stake in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC increased its position in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the period. 1834 Investment Advisors Co. raised its stake in QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. acquired a new position in QUALCOMM in the fourth quarter valued at $305,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.1 %

Shares of NASDAQ:QCOM traded down $0.14 during mid-day trading on Thursday, hitting $191.46. 9,913,938 shares of the company traded hands, compared to its average volume of 9,186,523. The stock has a 50-day moving average price of $204.71 and a two-hundred day moving average price of $175.08. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The stock has a market cap of $213.67 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.55 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.78%. 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, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The sale was disclosed in a 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 stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,185 shares of company stock worth $8,552,835. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen boosted their price target 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 shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $197.54.

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.