HBK Sorce Advisory LLC Buys 524 Shares of QUALCOMM Incorporated $QCOM

HBK Sorce Advisory LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,941 shares of the wireless technology company’s stock after acquiring an additional 524 shares during the quarter. HBK Sorce Advisory LLC’s holdings in QUALCOMM were worth $3,335,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QCOM. Brighton Jones LLC lifted its position in QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Golden State Wealth Management LLC lifted its position in QUALCOMM by 24.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,457 shares of the wireless technology company’s stock valued at $685,000 after acquiring an additional 885 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in QUALCOMM by 2.9% in the 1st quarter. Ameritas Advisory Services LLC now owns 12,228 shares of the wireless technology company’s stock valued at $1,878,000 after acquiring an additional 350 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in QUALCOMM by 16.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 3,099 shares of the wireless technology company’s stock valued at $476,000 after acquiring an additional 447 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 149,304 shares in the company, valued at $24,718,770.24. This represents a 50.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Patricia Y. Grech sold 201 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total value of $34,170.00. Following the completion of the sale, the chief accounting officer owned 203 shares in the company, valued at $34,510. This represents a 49.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 168,102 shares of company stock valued at $27,706,855. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on QCOM shares. Citigroup boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Arete Research set a $200.00 price target on shares of QUALCOMM in a research report on Tuesday, August 26th. Mizuho cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.95.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $178.67 on Thursday. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $164.93 and its two-hundred day moving average price is $156.11. The firm has a market capitalization of $192.78 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.63 and a beta of 1.23. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion for 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 business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

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