Atlantic Union Bankshares Corp Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Atlantic Union Bankshares Corp grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 78,981 shares of the wireless technology company’s stock after acquiring an additional 4,885 shares during the period. QUALCOMM comprises 1.1% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 18th biggest holding. Atlantic Union Bankshares Corp’s holdings in QUALCOMM were worth $13,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. increased its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $32,000. Cherry Tree Wealth Management LLC increased its position in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $35,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 2.1 %

QCOM stock traded up $4.03 on Friday, reaching $199.18. The company’s stock had a trading volume of 15,545,504 shares, compared to its average volume of 9,371,027. The business has a fifty day simple moving average of $195.82 and a two-hundred day simple moving average of $169.22. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The firm has a market cap of $222.28 billion, a PE ratio of 26.77, a PEG ratio of 2.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.71%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Analyst Ratings Changes

Several research firms recently weighed in on QCOM. JPMorgan Chase & Co. upped their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a research report on Thursday, May 2nd. Argus increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley increased their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

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.