1,607 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Creekside Partners

Creekside Partners purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,607 shares of the wireless technology company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter worth about $27,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% during the second 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 last quarter. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM during the first quarter worth $37,000. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Tigress Financial increased their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Finally, Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Stock Up 1.5 %

Shares of NASDAQ:QCOM opened at $168.32 on Thursday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a market capitalization of $187.51 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.86 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 company has a fifty day moving average of $168.35 and a 200-day moving average of $182.05.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 2.02%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other 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 transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,245 shares of company stock valued at $4,296,237. 0.08% of the stock is currently owned by company insiders.

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.