Quarry LP Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Quarry LP increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 155.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 930 shares of the wireless technology company’s stock after purchasing an additional 566 shares during the quarter. Quarry LP’s holdings in QUALCOMM were worth $185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Richardson Capital Management LLC bought a new position in QUALCOMM in the 1st quarter valued at $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of QUALCOMM during the 4th quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $170.05 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market cap of $189.78 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a 50-day moving average of $169.16 and a 200-day moving average of $182.16.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were issued a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is presently 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 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 $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. Robert W. Baird increased their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Tigress Financial upped their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $211.67.

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.