Clearbridge Investments LLC Purchases 1,036 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Clearbridge Investments LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,308 shares of the wireless technology company’s stock after buying an additional 1,036 shares during the period. Clearbridge Investments LLC’s holdings in QUALCOMM were worth $44,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Price T Rowe Associates Inc. MD increased its stake in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Legal & General Group Plc increased its position in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares in the last quarter. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the first quarter valued at $1,171,516,000. Putnam Investments LLC boosted its holdings in QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after acquiring an additional 263,482 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. Wells Fargo & Company upped their price target 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. Robert W. Baird upped their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Up 0.4 %

QCOM stock opened at $168.92 on Friday. The business’s 50-day moving average price is $168.23 and its 200-day moving average price is $181.96. The stock has a market cap of $188.18 billion, a P/E ratio of 22.70, a PEG ratio of 1.86 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. 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 (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 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 research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 over the last quarter. Insiders own 0.08% of the company’s stock.

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.