Ted Buchan & Co Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Ted Buchan & Co acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,322 shares of the wireless technology company’s stock, valued at approximately $263,000.

A number of other large investors also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at $873,000. Jones Financial Companies Lllp grew its position in shares of QUALCOMM by 171.8% in the 4th quarter. Jones Financial Companies Lllp now owns 2,340 shares of the wireless technology company’s stock valued at $338,000 after buying an additional 1,479 shares during the last quarter. Cornerstone Advisory LLC grew its position in shares of QUALCOMM by 4.2% in the 4th quarter. Cornerstone Advisory LLC now owns 2,200 shares of the wireless technology company’s stock valued at $318,000 after buying an additional 88 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its position in QUALCOMM by 37.1% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 12,042 shares of the wireless technology company’s stock worth $1,742,000 after purchasing an additional 3,260 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in QUALCOMM by 2.7% during the 4th quarter. Belpointe Asset Management LLC now owns 12,312 shares of the wireless technology company’s stock worth $1,781,000 after purchasing an additional 327 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $170.05 on Tuesday. The company has a market cap of $189.78 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.83 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 company has a 50-day simple moving average of $169.16 and a 200-day simple moving average of $182.16.

QUALCOMM (NASDAQ:QCOM) last issued 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 during the quarter, compared to the consensus estimate 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 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, 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 completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on QCOM shares. Robert W. Baird raised their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Tigress Financial raised 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. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.