Evernest Financial Advisors LLC Purchases 1,596 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Evernest Financial Advisors LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,796 shares of the wireless technology company’s stock after buying an additional 1,596 shares during the period. Evernest Financial Advisors LLC’s holdings in QUALCOMM were worth $1,044,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after buying an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after acquiring an additional 340 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in QUALCOMM during the fourth quarter valued at $55,000. APG Asset Management US Inc. increased its holdings in QUALCOMM by 2.9% in the 4th quarter. APG Asset Management US Inc. now owns 35,068 shares of the wireless technology company’s stock valued at $5,387,000 after acquiring an additional 992 shares during the last quarter. Finally, One Degree Advisors Inc lifted its stake in QUALCOMM by 4.4% in the 4th quarter. One Degree Advisors Inc now owns 2,348 shares of the wireless technology company’s stock worth $361,000 after purchasing an additional 99 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the transaction, the chief financial officer owned 43,207 shares of the company’s stock, valued at approximately $6,398,956.70. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 0.6%

NASDAQ QCOM opened at $145.84 on Thursday. The company has a market capitalization of $157.36 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23. The company’s 50-day simple moving average is $155.08 and its two-hundred day simple moving average is $154.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. QUALCOMM’s revenue was up 10.4% on a year-over-year basis. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM’s payout ratio is currently 34.33%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an “outperform” rating in a report on Monday, July 28th. Finally, Citigroup reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average price target of $181.10.

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.