Addison Advisors LLC Has $404,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Addison Advisors LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.5% in the second quarter, Holdings Channel reports. The firm owned 2,027 shares of the wireless technology company’s stock after purchasing an additional 424 shares during the quarter. Addison Advisors LLC’s holdings in QUALCOMM were worth $404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the last quarter. Finally, First Pacific Financial bought a new position in QUALCOMM in the second quarter valued at about $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock traded down $3.12 during midday trading on Friday, hitting $160.58. The company’s stock had a trading volume of 1,239,446 shares, compared to its average volume of 9,224,437. The stock has a market cap of $178.89 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.93 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $180.77 and its 200 day moving average price is $181.31. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Announces Dividend

The firm 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 dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Robert W. Baird boosted 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. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, TD Cowen boosted their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $210.63.

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.