Cheviot Value Management LLC Takes $477,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cheviot Value Management LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,106 shares of the wireless technology company's stock, valued at approximately $477,000.

Other hedge funds have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of QUALCOMM by 565.0% during 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 last quarter. PFG Advisors increased its holdings in shares of QUALCOMM by 8.0% during the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after acquiring an additional 321 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings 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 valued at $28,979,000 after acquiring an additional 6,017 shares during the last quarter. Finally, Kanawha Capital Management LLC boosted its stake in QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after purchasing an additional 1,573 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on 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 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. In the last ninety days, insiders sold 424,099 shares of company stock valued at $8,324,591. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Piper Sandler decreased their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Wells Fargo & Company decreased 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. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Mizuho decreased their target price on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Trading Up 1.0%

Shares of QCOM opened at $148.19 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.08 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $155.11 and a 200-day simple moving average of $154.86. The stock has a market cap of $159.90 billion, a PE ratio of 14.29, a PEG ratio of 1.90 and a beta of 1.23.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio is presently 34.33%.

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.

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