Blair William & Co. IL Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Blair William & Co. IL increased its position in QUALCOMM shares by 79.8% in Q1, owning approximately 649,673 shares valued at $99.8 million.
• Several institutional investors, including GAMMA Investing LLC and Capital Research Global Investors, significantly raised their stakes in QUALCOMM during the first quarter, with GAMMA increasing its position by an unprecedented 20,700.4%.
• QUALCOMM's latest quarterly earnings report showed earnings of $2.77 per share, exceeding forecasts, with a revenue of $10.37 billion, alongside a declared quarterly dividend of $0.89 per share.

Blair William & Co. IL increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 79.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 649,673 shares of the wireless technology company's stock after purchasing an additional 288,257 shares during the period. Blair William & Co. IL owned 0.06% of QUALCOMM worth $99,796,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. OVERSEA CHINESE BANKING Corp Ltd raised its position in QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after purchasing an additional 105,631 shares in the last quarter. PFG Advisors increased its holdings in shares of QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock worth $663,000 after buying an additional 321 shares in the last quarter. Teza Capital Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of QUALCOMM by 3.3% during the first 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, Manchester Capital Management LLC increased its holdings in shares of QUALCOMM by 0.5% during the first quarter. Manchester Capital Management LLC now owns 24,169 shares of the wireless technology company's stock worth $3,713,000 after buying an additional 129 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 0.5%

Shares of QCOM stock traded down $0.68 on Monday, reaching $147.51. 8,142,086 shares of the company were exchanged, compared to its average volume of 8,379,979. The company has a market cap of $159.16 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.18 and a beta of 1.23. The company has a 50-day moving average of $155.11 and a 200-day moving average of $154.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10.

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

QUALCOMM Announces Dividend

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 annualized dividend and a yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the completion of the sale, the chief financial officer owned 43,207 shares in the company, valued at approximately $6,398,956.70. This trade represents a 7.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated 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 owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,099 shares of company stock worth $8,352,355. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $181.10.

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.