MGO One Seven LLC Acquires 604 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

MGO One Seven LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,059 shares of the wireless technology company’s stock after purchasing an additional 604 shares during the quarter. MGO One Seven LLC’s holdings in QUALCOMM were worth $2,601,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the first quarter worth about $27,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% in the second 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. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the first quarter worth $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in QUALCOMM during the fourth quarter worth $39,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Barclays raised their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Westpark Capital reissued 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 issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Up 3.0 %

QCOM stock opened at $166.56 on Thursday. The business’s fifty day moving average price is $177.65 and its two-hundred day moving average price is $181.74. The stock has a market capitalization of $185.88 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.74 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week 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 released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s 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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the 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 sale, 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 accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by corporate 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.