UNIVEST FINANCIAL Corp Grows Stake in QUALCOMM Incorporated $QCOM

UNIVEST FINANCIAL Corp boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105 shares of the wireless technology company’s stock after purchasing an additional 175 shares during the period. UNIVEST FINANCIAL Corp’s holdings in QUALCOMM were worth $335,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC grew its holdings in QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 70 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in QUALCOMM during the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new stake in QUALCOMM during the 2nd quarter valued at $32,000. Finally, Atticus Wealth Management LLC grew its holdings in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 212 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM stock opened at $177.26 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. The stock’s fifty day simple moving average is $165.40 and its 200-day simple moving average is $156.26. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $191.26 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QCOM shares. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an “outperform” rating in a report on Monday, July 28th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Tuesday. Susquehanna increased their target price on QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Piper Sandler lowered their target price on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Finally, Mizuho lowered their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.95.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $166.06, for a total value of $1,384,110.10. Following the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. This trade represents a 18.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Patricia Y. Grech sold 273 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at $65,213.68. This trade represents a 40.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 166,502 shares of company stock valued at $27,472,615. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.