Kowal Investment Group LLC Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kowal Investment Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,002 shares of the wireless technology company’s stock after purchasing an additional 1,195 shares during the period. Kowal Investment Group LLC’s holdings in QUALCOMM were worth $996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC increased its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Richardson Capital Management LLC acquired a new position in QUALCOMM during the first quarter worth about $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QUALCOMM stock opened at $168.92 on Friday. The company has a market cap of $188.51 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month 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. The stock’s 50-day moving average is $172.52 and its 200-day moving average is $182.16.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 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 firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Bank of America raised their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 3rd. Mizuho lifted their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $211.67.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was 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 in the company, valued at $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the 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 completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.