Aaron Wealth Advisors LLC Acquires 1,443 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Aaron Wealth Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,352 shares of the wireless technology company’s stock after purchasing an additional 1,443 shares during the period. Aaron Wealth Advisors LLC’s holdings in QUALCOMM were worth $1,420,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Legal & General Group Plc raised its position in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares during the last quarter. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the first quarter valued at approximately $1,171,516,000. Van ECK Associates Corp lifted its position in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the period. Dimensional Fund Advisors LP boosted its holdings in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in QUALCOMM by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,476,901 shares of the wireless technology company’s stock worth $588,639,000 after purchasing an additional 26,187 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Susquehanna upped their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Barclays raised their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.75.

QUALCOMM Price Performance

QCOM traded up $0.43 during trading on Friday, reaching $171.53. 1,320,590 shares of the company traded hands, compared to its average volume of 9,022,008. The company has a market cap of $191.08 billion, a P/E ratio of 22.16, a PEG ratio of 1.79 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The firm has a fifty day simple moving average of $168.98 and a 200 day simple moving average of $182.12.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

QUALCOMM Company 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.