Lantz Financial LLC Acquires New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Lantz Financial LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,174 shares of the wireless technology company’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of QUALCOMM in the first quarter worth approximately $37,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of QUALCOMM in the fourth quarter worth $39,000. Finally, Neo Ivy Capital Management bought a new stake in QUALCOMM during the 4th quarter valued at $40,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QCOM opened at $161.68 on Wednesday. The firm has a market cap of $180.11 billion, a PE ratio of 21.73, a P/E/G ratio of 1.74 and a beta of 1.28. The stock has a 50-day moving average price of $178.40 and a 200-day moving average price of $181.85. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last issued its 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 the consensus estimate of $9.23 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal 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 paid a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.10%. QUALCOMM’s dividend payout ratio is 45.70%.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock valued at $3,496,590. Corporate insiders own 0.08% of the company’s stock.

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.