Sierra Summit Advisors LLC Buys 879 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sierra Summit Advisors LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,047 shares of the wireless technology company’s stock after acquiring an additional 879 shares during the period. Sierra Summit Advisors LLC’s holdings in QUALCOMM were worth $1,603,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in QCOM. Dimensional Fund Advisors LP increased its stake in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares during the period. Capital Wealth Planning LLC purchased a new stake in QUALCOMM in the 2nd quarter worth $301,000. Valley Forge Investment Consultants Inc. ADV bought a new stake in QUALCOMM during the second quarter valued at about $261,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of QUALCOMM by 9.1% in the second quarter. Brown Brothers Harriman & Co. now owns 26,153 shares of the wireless technology company’s stock valued at $5,209,000 after acquiring an additional 2,190 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was 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 disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Barclays raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Tigress Financial boosted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Up 1.7 %

Shares of NASDAQ:QCOM opened at $167.73 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business has a 50 day simple moving average of $176.11 and a two-hundred day simple moving average of $182.05. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a market capitalization of $186.85 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating 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 company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared 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. This represents a $3.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 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.