QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Invst LLC

Invst LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,365 shares of the wireless technology company’s stock after purchasing an additional 67 shares during the period. Invst LLC’s holdings in QUALCOMM were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new position in QUALCOMM in the second quarter worth about $1,697,000. NewEdge Advisors LLC lifted its holdings in QUALCOMM by 33.0% in the second quarter. NewEdge Advisors LLC now owns 79,506 shares of the wireless technology company’s stock worth $15,836,000 after acquiring an additional 19,744 shares during the last quarter. Nemes Rush Group LLC lifted its holdings in QUALCOMM by 2.0% in the second quarter. Nemes Rush Group LLC now owns 93,597 shares of the wireless technology company’s stock worth $18,643,000 after acquiring an additional 1,854 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in QUALCOMM in the second quarter worth about $1,340,000. Finally, Algert Global LLC bought a new position in QUALCOMM in the second quarter worth about $366,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 sale, the chief financial officer now directly 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. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.0 %

QUALCOMM stock opened at $170.05 on Tuesday. 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 firm has a market cap of $189.78 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm’s 50 day moving average price is $169.16 and its two-hundred day moving average price is $182.16.

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 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 firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

About QUALCOMM

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.