Prospera Financial Services Inc increased its position in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 31.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,368 shares of the wireless technology company’s stock after acquiring an additional 11,326 shares during the period. Prospera Financial Services Inc’s holdings in Qualcomm were worth $8,759,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its stake in Qualcomm by 3.4% during the second quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock worth $295,000 after purchasing an additional 53 shares during the last quarter. Wall Street Financial Group Inc. boosted its holdings in shares of Qualcomm by 1.9% in the 2nd quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock valued at $564,000 after purchasing an additional 57 shares in the last quarter. Sunbeam Capital Management LLC increased its stake in shares of Qualcomm by 3.7% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock valued at $303,000 after purchasing an additional 58 shares during the last quarter. Basepoint Wealth LLC increased its stake in shares of Qualcomm by 1.8% in the 1st quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company’s stock valued at $429,000 after purchasing an additional 59 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. raised its holdings in shares of Qualcomm by 1.9% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 3,274 shares of the wireless technology company’s stock worth $611,000 after buying an additional 62 shares in the last quarter. 74.35% of the stock is owned by institutional investors.
Qualcomm Trading Up 0.6%
Shares of QCOM stock opened at $165.79 on Friday. The firm has a market capitalization of $174.12 billion, a P/E ratio of 19.19, a P/E/G ratio of 15.25 and a beta of 1.65. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $182.72 and its 200 day simple moving average is $167.72.
Qualcomm Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. Qualcomm’s dividend payout ratio is currently 42.59%.
Insider Activity
In other Qualcomm news, EVP Heather S. Ace sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares of the company’s stock, valued at $5,372,106.40. The trade was a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,529 shares of company stock valued at $1,991,345 over the last quarter. 0.05% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. upped their price objective on Qualcomm from $160.00 to $265.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. BNP Paribas Exane downgraded Qualcomm to a “neutral” rating in a research note on Wednesday, April 29th. Dbs Bank raised shares of Qualcomm to a “moderate buy” rating in a report on Tuesday, July 7th. Lake Street Capital downgraded shares of Qualcomm to a “hold” rating in a research note on Thursday, June 25th. Finally, HSBC reaffirmed a “hold” rating on shares of Qualcomm in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Qualcomm currently has an average rating of “Hold” and an average target price of $203.63.
View Our Latest Research Report on Qualcomm
Qualcomm Profile
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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