FengHe Fund Management Pte. Ltd. Purchases New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• FengHe Fund Management Pte. Ltd. purchased 97,100 shares of QUALCOMM, valued at approximately $14.9 million, making it the fund's 4th largest position.
• QUALCOMM's recent earnings report showed EPS of $2.77, exceeding expectations and indicating a 10.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.89 per share, reflecting an annualized yield of 2.3%, with the ex-dividend date set for September 4th.

FengHe Fund Management Pte. Ltd. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 97,100 shares of the wireless technology company's stock, valued at approximately $14,916,000. QUALCOMM makes up approximately 5.6% of FengHe Fund Management Pte. Ltd.'s portfolio, making the stock its 4th biggest holding.

Several other institutional investors also recently bought and sold shares of QCOM. Brighton Jones LLC boosted its position in shares of QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares during the period. SageView Advisory Group LLC grew its holdings in QUALCOMM by 19.8% during the fourth quarter. SageView Advisory Group LLC now owns 3,311 shares of the wireless technology company's stock worth $509,000 after acquiring an additional 548 shares during the period. CreativeOne Wealth LLC grew its holdings in QUALCOMM by 33.8% during the fourth quarter. CreativeOne Wealth LLC now owns 10,321 shares of the wireless technology company's stock worth $1,586,000 after acquiring an additional 2,607 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in QUALCOMM during the fourth quarter worth $2,806,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $148.10, for a total value of $493,617.30. Following the completion of the transaction, the chief financial officer owned 43,207 shares in the company, valued at $6,398,956.70. The trade was a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 1.9%

Shares of NASDAQ:QCOM traded up $2.86 during midday trading on Wednesday, hitting $156.59. 7,098,897 shares of the stock were exchanged, compared to its average volume of 8,781,794. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The business's fifty day simple moving average is $155.35 and its two-hundred day simple moving average is $153.91. The company has a market capitalization of $168.96 billion, a PE ratio of 15.10, a P/E/G ratio of 2.24 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm's revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 EPS. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is 34.33%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Finally, Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $181.10.

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.