Foster & Motley Inc. Acquires 10,348 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Foster & Motley Inc. increased its holdings in QUALCOMM by 54.2% during the first quarter, now owning 29,437 shares worth approximately $4.52 million.
• Several institutional investors also made significant changes to their stakes in QUALCOMM, with OVERSEA CHINESE BANKING Corp Ltd boosting its position by 565.0%, now holding shares valued at $19.1 million.
• QUALCOMM recently reported earnings of $2.85 per share, exceeding analyst expectations, and announced a quarterly dividend of $0.89 to be paid on September 25th.

Foster & Motley Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 54.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,437 shares of the wireless technology company's stock after buying an additional 10,348 shares during the quarter. Foster & Motley Inc.'s holdings in QUALCOMM were worth $4,522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter valued at approximately $27,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares in the last quarter. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter valued at approximately $30,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Down 1.9%

QUALCOMM stock traded down $3.02 during trading hours on Wednesday, hitting $159.06. The stock had a trading volume of 14,086,123 shares, compared to its average volume of 6,463,369. The stock's 50-day moving average price is $155.06 and its 200-day moving average price is $155.08. The stock has a market capitalization of $174.65 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction 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 transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,310,735 in the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Susquehanna decreased their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an "outperform" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $183.95.

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.