Sequoia Financial Advisors LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sequoia Financial Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.0% during the 3rd quarter, Holdings Channel reports. The fund owned 107,807 shares of the wireless technology company’s stock after buying an additional 10,646 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in QUALCOMM were worth $18,333,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fermata Advisors LLC purchased a new stake in QUALCOMM in the 1st quarter valued at about $311,000. Community Bank of Raymore raised its holdings in QUALCOMM by 8.1% in the 1st quarter. Community Bank of Raymore now owns 21,645 shares of the wireless technology company’s stock valued at $3,664,000 after buying an additional 1,620 shares during the period. New England Professional Planning Group Inc. purchased a new stake in QUALCOMM in the 1st quarter valued at about $220,000. DLK Investment Management LLC raised its holdings in QUALCOMM by 7.4% in the 1st quarter. DLK Investment Management LLC now owns 24,529 shares of the wireless technology company’s stock valued at $4,153,000 after buying an additional 1,691 shares during the period. Finally, Hoxton Planning & Management LLC raised its holdings in QUALCOMM by 5.3% in the 1st quarter. Hoxton Planning & Management LLC now owns 3,678 shares of the wireless technology company’s stock valued at $623,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $1.75 during trading hours on Tuesday, hitting $170.76. 2,775,055 shares of the company were exchanged, compared to its average volume of 9,007,933. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average of $169.24 and a 200-day moving average of $182.25. The stock has a market capitalization of $190.23 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % 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. In related news, CTO James H. Thompson sold 8,000 shares of the business’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 transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by company insiders.

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.