Chicago Partners Investment Group LLC Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Chicago Partners Investment Group LLC increased its stake in QUALCOMM Incorporated by 15.5% during the first quarter, now holding 13,528 shares valued at approximately $1.95 million.
• QUALCOMM reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations and showing a 10.4% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.89 per share, payable on September 25th, with a current annualized yield of 2.4%.

Chicago Partners Investment Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,528 shares of the wireless technology company's stock after buying an additional 1,813 shares during the period. Chicago Partners Investment Group LLC's holdings in QUALCOMM were worth $1,952,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QCOM. Eagle Strategies LLC lifted its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. raised its stake in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of QUALCOMM by 2.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after buying an additional 69 shares during the period. Collaborative Wealth Managment Inc. boosted its stake in shares of QUALCOMM by 5.1% in the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after buying an additional 69 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in QUALCOMM by 0.3% in the first quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after acquiring an additional 69 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.0%

QCOM stock opened at $145.90 on Friday. The company has a 50 day moving average price of $155.03 and a two-hundred day moving average price of $154.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The stock has a market capitalization of $157.43 billion, a P/E ratio of 14.07, a PEG ratio of 2.13 and a beta of 1.23. 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 quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The business's revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 earnings per share. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. 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 currently 34.33%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QCOM. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Piper Sandler dropped their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Mizuho decreased their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $181.10.

Insider Activity

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business'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 owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last 90 days. 0.08% of the stock is currently owned by insiders.

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.

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