Argyle Capital Management LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Argyle Capital Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 73.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,009 shares of the wireless technology company's stock after buying an additional 1,700 shares during the period. Argyle Capital Management LLC's holdings in QUALCOMM were worth $616,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of QCOM. Norges Bank bought a new stake in QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi grew its position in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. GAMMA Investing LLC grew its position 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 valued at $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Northern Trust Corp grew its position in shares of QUALCOMM by 12.7% in the fourth 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in QUALCOMM by 17.0% during the fourth 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 buying an additional 1,424,106 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on QCOM. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup upped their price target on QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of "Hold" and a consensus target price of $188.00.

Insider Transactions at QUALCOMM

In related 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 Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,747 shares of company stock valued at $8,402,174. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $1.36 during midday trading on Tuesday, hitting $159.45. 6,874,128 shares of the stock traded hands, compared to its average volume of 8,541,280. The firm has a market capitalization of $175.08 billion, a P/E ratio of 16.24, a PEG ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm has a 50-day moving average of $151.78 and a two-hundred day moving average of $155.04. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for 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%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. The ex-dividend date was Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.23%. 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.