QUALCOMM Incorporated (NASDAQ:QCOM) Stake Boosted by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC increased its holdings in QUALCOMM by 18.8%, acquiring an additional 2,080 shares, bringing their total to 13,137 shares valued at approximately $2,018,000.
• Institutional investors own about 74.35% of QUALCOMM's stock, with several hedge funds making substantial increases in their positions during the first quarter.
• QUALCOMM recently declared a quarterly dividend of $0.89, which translates to an annual yield of 2.25%, with the dividend payout ratio currently at 36.25%.

Applied Finance Capital Management LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,137 shares of the wireless technology company's stock after buying an additional 2,080 shares during the quarter. Applied Finance Capital Management LLC's holdings in QUALCOMM were worth $2,018,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Northern Trust Corp boosted its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after purchasing an additional 709,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of QUALCOMM by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company's stock worth $692,747,000 after purchasing an additional 138,257 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Sanford C. Bernstein set a $185.00 target price on shares of QUALCOMM and gave the stock an "outperform" rating in a research report on Monday. Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $183.95.

QUALCOMM Stock Up 0.8%

NASDAQ QCOM traded up $1.36 on Tuesday, reaching $162.41. The company had a trading volume of 3,559,560 shares, compared to its average volume of 8,315,098. The firm has a market capitalization of $178.32 billion, a PE ratio of 16.54, a P/E/G ratio of 2.04 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a 50-day moving average of $154.74 and a 200-day moving average of $155.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced 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 2.19%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

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.