OneAscent Wealth Management LLC Invests $446,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

OneAscent Wealth Management LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, Holdings Channel.com reports. The firm acquired 2,633 shares of the wireless technology company’s stock, valued at approximately $446,000.

A number of other hedge funds also recently made changes to their positions in QCOM. Financial Gravity Asset Management Inc. raised its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM during the fourth quarter worth approximately $32,000. Cherry Tree Wealth Management LLC lifted its position in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM during the 4th quarter valued at $35,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.1 %

Shares of QUALCOMM stock traded up $4.03 during midday trading on Friday, reaching $199.18. 15,547,484 shares of the company’s stock traded hands, compared to its average volume of 11,272,695. The company has a market cap 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 Incorporated has a 52 week low of $104.33 and a 52 week 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 company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Wells Fargo & Company lifted their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. TD Cowen increased their price target on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Robert W. Baird boosted their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

Insiders Place Their Bets

In other news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock valued at $8,206,875 in the last quarter. Insiders own 0.08% of the company’s stock.

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.