Calamos Advisors LLC Purchases 2,364 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Calamos Advisors LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215,882 shares of the wireless technology company's stock after purchasing an additional 2,364 shares during the period. Calamos Advisors LLC's holdings in QUALCOMM were worth $33,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter valued at about $27,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $29,000. Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $31,000. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 425,016 shares of company stock worth $8,437,440. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Stock Performance

QUALCOMM stock opened at $162.11 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The firm has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company's 50-day moving average is $151.05 and its 200 day moving average is $154.90.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. 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 dividend yield of 2.20%. QUALCOMM's dividend payout ratio is presently 36.25%.

About QUALCOMM

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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