Dana Investment Advisors Inc. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Dana Investment Advisors Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 208.3% in the 2nd quarter, Holdings Channel reports. The fund owned 102,846 shares of the wireless technology company’s stock after acquiring an additional 69,492 shares during the quarter. QUALCOMM accounts for 0.7% of Dana Investment Advisors Inc.’s holdings, making the stock its 28th largest holding. Dana Investment Advisors Inc.’s holdings in QUALCOMM were worth $20,485,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the 2nd quarter worth $30,000. WFA Asset Management Corp acquired a new stake in QUALCOMM during the first quarter worth about $27,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the second quarter worth about $32,000. Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $170.05 on Tuesday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock has a market capitalization of $189.78 billion, a PE ratio of 22.86, a PEG ratio of 1.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a 50-day simple moving average of $169.16 and a 200-day simple moving average of $182.16.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on 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 directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.67.

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.