Addison Advisors LLC Purchases 424 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Addison Advisors LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,027 shares of the wireless technology company’s stock after buying an additional 424 shares during the quarter. Addison Advisors LLC’s holdings in QUALCOMM were worth $404,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Gilbert & Cook Inc. increased its position in QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock worth $760,000 after buying an additional 356 shares during the period. Gryphon Financial Partners LLC bought a new position in QUALCOMM during the fourth quarter worth $334,000. Ethos Financial Group LLC raised its stake in QUALCOMM by 24.8% during the 4th quarter. Ethos Financial Group LLC now owns 3,113 shares of the wireless technology company’s stock valued at $451,000 after purchasing an additional 618 shares during the last quarter. First Western Trust Bank raised its stake in QUALCOMM by 16.8% during the 4th quarter. First Western Trust Bank now owns 4,718 shares of the wireless technology company’s stock valued at $682,000 after purchasing an additional 678 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in QUALCOMM during the 4th quarter valued at $4,243,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on QCOM shares. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Rosenblatt Securities boosted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Citigroup boosted their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction 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 directly 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. Over the last three months, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 1.9 %

QCOM stock traded down $3.12 during mid-day trading on Friday, hitting $160.58. 1,239,446 shares of the company were exchanged, compared to its average volume of 9,224,437. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $178.89 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.93 and a beta of 1.28. The firm’s 50 day simple moving average is $180.77 and its 200 day simple moving average is $181.31. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 2.12%. QUALCOMM’s dividend payout ratio is presently 45.70%.

QUALCOMM 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.