Brown Brothers Harriman & Co. Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Brown Brothers Harriman & Co. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% during the second quarter, Holdings Channel.com reports. The firm owned 26,153 shares of the wireless technology company’s stock after buying an additional 2,190 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in QUALCOMM were worth $5,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of QCOM. City Holding Co. increased its position in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the last quarter. Bard Financial Services Inc. raised its stake in shares of QUALCOMM by 0.4% in the 4th quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock valued at $5,032,000 after acquiring an additional 125 shares during the period. Federated Hermes Inc. lifted its holdings in shares of QUALCOMM by 173.3% in the 2nd quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after acquiring an additional 534,176 shares during the last quarter. BNP Paribas purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $3,104,000. Finally, SWP Financial LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $593,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. KeyCorp raised their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Mizuho raised their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Bank of America boosted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Citigroup raised their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Finally, HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now 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. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $166.61 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm’s 50 day moving average is $175.29 and its two-hundred day moving average is $182.11. The firm has a market capitalization of $185.94 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.81 and a beta of 1.28.

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, beating 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 business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Research analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 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.