Kestra Advisory Services LLC Has $18.59 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kestra Advisory Services LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,796 shares of the wireless technology company’s stock after purchasing an additional 8,097 shares during the period. Kestra Advisory Services LLC’s holdings in QUALCOMM were worth $18,588,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP bought a new position in QUALCOMM in the first quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC increased its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, 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. Over the last quarter, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on QCOM shares. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research report on Friday, May 3rd. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird lifted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. Finally, Bank of America lifted their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.63.

QUALCOMM Price Performance

Shares of QCOM traded up $4.66 during midday trading on Friday, hitting $180.05. The company’s stock had a trading volume of 6,567,842 shares, compared to its average volume of 8,034,185. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The stock has a market capitalization of $200.94 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27. The company’s fifty day simple moving average is $204.19 and its two-hundred day simple moving average is $177.26.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.