Dynasty Wealth Management LLC Acquires New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dynasty Wealth Management LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,448 shares of the wireless technology company’s stock, valued at approximately $584,000.

A number of other institutional investors have also recently made changes to their positions in the business. Grandview Asset Management LLC grew its holdings in shares of QUALCOMM by 2.3% in the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares in the last quarter. Tealwood Asset Management Inc. lifted its stake in QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after acquiring an additional 63 shares during the last quarter. VERITY Wealth Advisors lifted its stake in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after acquiring an additional 64 shares during the last quarter. SlateStone Wealth LLC lifted its stake in QUALCOMM by 1.7% in the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after acquiring an additional 65 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its stake in QUALCOMM by 1.4% in the first quarter. Verus Capital Partners LLC now owns 4,573 shares of the wireless technology company’s stock worth $774,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Piper Sandler boosted their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Mizuho boosted their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $199.63.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $9.03 on Wednesday, reaching $175.97. 7,034,174 shares of the company were exchanged, compared to its average volume of 9,190,738. 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 firm has a market cap of $196.38 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.17 and a beta of 1.27. The company has a 50-day moving average of $203.13 and a 200-day moving average of $178.00.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share 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 business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. Equities analysts forecast that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.93%. QUALCOMM’s payout ratio is 45.70%.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock valued at $8,552,835. Insiders own 0.08% of the company’s stock.

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.