Applied Finance Capital Management LLC Purchases 2,080 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

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 boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,137 shares of the wireless technology company's stock after buying an additional 2,080 shares during the period. Applied Finance Capital Management LLC's holdings in QUALCOMM were worth $2,018,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the last quarter. Northern Trust Corp grew its holdings 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 valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in QUALCOMM in the 4th quarter valued at approximately $204,085,000. Finally, Capital Research Global Investors boosted its position in QUALCOMM by 525.5% in the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after buying an additional 1,187,531 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on QCOM shares. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.3%

QUALCOMM stock opened at $158.40 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $173.92 billion, a PE ratio of 16.13, a PEG ratio of 2.05 and a beta of 1.26. The firm's fifty day moving average is $154.60 and its 200 day moving average is $155.03. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business'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 earnings per share. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Activity

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

QUALCOMM Company 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.

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