EFG Asset Management Americas Corp. Has $7.85 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

EFG Asset Management Americas Corp. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 62.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,404 shares of the wireless technology company’s stock after acquiring an additional 15,116 shares during the quarter. QUALCOMM makes up about 1.5% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 20th biggest holding. EFG Asset Management Americas Corp.’s holdings in QUALCOMM were worth $7,848,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the period. McClarren Financial Advisors Inc. boosted its position in shares of 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 period. Finally, First Pacific Financial bought a new position in QUALCOMM during the second quarter worth about $40,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were 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 owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Down 3.4 %

QCOM stock traded down $5.51 during midday trading on Friday, hitting $158.19. The stock had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. The business has a fifty day moving average price of $179.95 and a two-hundred day moving average price of $181.35. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market cap of $176.22 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s payout ratio is currently 45.70%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on QCOM shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. HSBC cut shares of 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. KeyCorp boosted their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, TD Cowen raised their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average 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.