Bayforest Capital Ltd Buys Shares of 2,350 QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Bayforest Capital Ltd invested approximately $361,000 in QUALCOMM by purchasing 2,350 shares, as indicated in their latest SEC filing.
• Recent analyst ratings for QUALCOMM show a consensus with one sell rating, twelve hold ratings, and thirteen buy ratings, with an average price target of $181.91.
• QUALCOMM declared a quarterly dividend of $0.89 per share, amounting to an annualized yield of 2.4%, to be paid on September 25th to investors of record on September 4th.

Bayforest Capital Ltd bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,350 shares of the wireless technology company's stock, valued at approximately $361,000.

Other institutional investors have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd increased its position in QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after acquiring an additional 105,631 shares during the period. PFG Advisors increased its position in QUALCOMM by 8.0% during the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock worth $663,000 after purchasing an additional 321 shares during the period. Teza Capital Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after buying an additional 6,017 shares in the last quarter. Finally, Kanawha Capital Management LLC raised its stake in shares of QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock worth $13,120,000 after buying an additional 1,573 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock worth $8,324,591. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 1.0%

QCOM traded up $1.43 during trading on Friday, hitting $148.19. The company's stock had a trading volume of 12,700,280 shares, compared to its average volume of 7,744,643. The stock has a market cap of $159.90 billion, a PE ratio of 14.29, a PEG ratio of 1.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.08. The firm's 50 day moving average price is $155.11 and its 200-day moving average price is $154.93. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.

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

QUALCOMM Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on QCOM shares. Wall Street Zen raised QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an "outperform" rating in a research note on Monday. Wells Fargo & Company cut their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Bank of America cut their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Finally, Piper Sandler decreased their price target on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of "Hold" and a consensus price target of $181.91.

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.