Acropolis Investment Management LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Acropolis Investment Management LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,445 shares of the wireless technology company’s stock after buying an additional 679 shares during the period. Acropolis Investment Management LLC’s holdings in QUALCOMM were worth $1,207,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new stake in QUALCOMM in the 1st quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $34,000. Crewe Advisors LLC boosted its holdings in QUALCOMM by 444.4% during the 1st quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Activest Wealth Management boosted its holdings in QUALCOMM by 117.1% during the 1st quarter. Activest Wealth Management now owns 267 shares of the wireless technology company’s stock valued at $41,000 after acquiring an additional 144 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in QUALCOMM by 58.8% during the 1st quarter. Tortoise Investment Management LLC now owns 270 shares of the wireless technology company’s stock valued at $41,000 after acquiring an additional 100 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on QCOM shares. KeyCorp boosted their price objective on QUALCOMM from $200.00 to $220.00 in a report on Monday, June 13th. Mizuho upped their target price on QUALCOMM from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft lowered their target price on QUALCOMM from $190.00 to $170.00 in a report on Wednesday, July 20th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 28th. Finally, Piper Sandler lowered their target price on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.04.

Insider Buying and Selling at QUALCOMM

In related news, insider James J. Cathey sold 2,084 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $126.51, for a total transaction of $263,646.84. Following the transaction, the insider now owns 917 shares in the company, valued at $116,009.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is owned by company insiders.

QUALCOMM Stock Down 3.2 %

Shares of QCOM stock traded down $3.95 during trading hours on Friday, hitting $119.73. 150,607 shares of the company were exchanged, compared to its average volume of 6,950,391. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61. QUALCOMM Incorporated has a one year low of $118.22 and a one year high of $193.58. The business’s 50-day simple moving average is $140.48 and its two-hundred day simple moving average is $139.40. The stock has a market capitalization of $134.46 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.72 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.52 by $0.44. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The business had revenue of $10.93 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter last year, the company posted $1.66 earnings per share. The company’s quarterly revenue was up 36.7% compared to the same quarter last year. Sell-side analysts predict that QUALCOMM Incorporated will post 10.95 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were issued a $0.75 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.51%. QUALCOMM’s dividend payout ratio is currently 26.57%.

About QUALCOMM

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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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