Hoxton Planning & Management LLC Buys Shares of 3,522 QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

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Hoxton Planning & Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,522 shares of the wireless technology company's stock, valued at approximately $541,000.

Several other large investors also recently added to or reduced their stakes in QCOM. Brighton Jones LLC grew its holdings in shares of QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC lifted its stake in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares in the last quarter. Clearbridge Investments LLC raised its position in QUALCOMM by 3.1% in the 4th quarter. Clearbridge Investments LLC now owns 177,954 shares of the wireless technology company's stock valued at $27,337,000 after purchasing an additional 5,348 shares in the last quarter. Tradewinds LLC. acquired a new stake in QUALCOMM in the 4th quarter valued at about $366,000. Finally, May Hill Capital LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $206,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $537,546.24. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 422,499 shares of company stock worth $8,090,351 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ QCOM traded up $0.57 on Friday, reaching $147.33. 2,681,027 shares of the stock traded hands, compared to its average volume of 8,464,387. The firm's fifty day simple moving average is $155.05 and its 200 day simple moving average is $155.00. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a market cap of $161.77 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 2.04 and a beta of 1.26. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.44% and a net margin of 26.77%. The company's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $2.33 EPS. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM's payout ratio is currently 36.25%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. Benchmark dropped their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $181.91.

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.