OneAscent Wealth Management LLC Purchases Shares of 2,633 QUALCOMM Incorporated (NASDAQ:QCOM)

OneAscent Wealth Management LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,633 shares of the wireless technology company’s stock, valued at approximately $446,000.

Several other institutional investors have also recently made changes to their positions in QCOM. Algert Global LLC bought a new stake in QUALCOMM in the third quarter worth $545,000. O Shaughnessy Asset Management LLC grew its position in QUALCOMM by 29.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 47,384 shares of the wireless technology company’s stock worth $5,262,000 after acquiring an additional 10,728 shares in the last quarter. Synovus Financial Corp raised its position in QUALCOMM by 22.7% during the third quarter. Synovus Financial Corp now owns 41,643 shares of the wireless technology company’s stock valued at $4,625,000 after purchasing an additional 7,716 shares during the period. Sora Investors LLC lifted its stake in shares of QUALCOMM by 18.8% in the 3rd quarter. Sora Investors LLC now owns 95,000 shares of the wireless technology company’s stock valued at $10,551,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Ironwood Investment Counsel LLC increased its position in shares of QUALCOMM by 1.5% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 17,793 shares of the wireless technology company’s stock valued at $1,976,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on QCOM. Argus lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Wolfe Research upped their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler raised their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird raised their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed 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 company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

QCOM traded up $4.03 during midday trading on Friday, hitting $199.18. 15,547,484 shares of the company were exchanged, compared to its average volume of 11,272,695. 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 Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company’s 50 day simple moving average is $195.82 and its 200 day simple moving average is $169.22. The firm has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 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.