QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has increased its stake in QUALCOMM by 55.3%, owning 23,765 shares valued at approximately $3.65 million at the end of the latest reporting period.
• QUALCOMM's recent earnings surpassed analyst expectations, reporting $2.77 EPS and revenues of $10.37 billion for the quarter, showing a year-over-year revenue increase of 10.4%.
• The company declared a quarterly dividend of $0.89, with a dividend yield of 2.4%, scheduled for payment on September 25th.

J. Safra Sarasin Holding AG lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 55.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,765 shares of the wireless technology company's stock after purchasing an additional 8,459 shares during the period. J. Safra Sarasin Holding AG's holdings in QUALCOMM were worth $3,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of QCOM. Aviso Wealth Management boosted its position in QUALCOMM by 15.9% during the first quarter. Aviso Wealth Management now owns 2,148 shares of the wireless technology company's stock worth $330,000 after acquiring an additional 295 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in QUALCOMM by 4.5% during the first quarter. Pathway Financial Advisers LLC now owns 14,140 shares of the wireless technology company's stock worth $2,172,000 after acquiring an additional 614 shares during the last quarter. Banco Santander S.A. boosted its position in QUALCOMM by 21.3% during the first quarter. Banco Santander S.A. now owns 265,255 shares of the wireless technology company's stock worth $40,746,000 after acquiring an additional 46,569 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in QUALCOMM by 4.3% during the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 7,300 shares of the wireless technology company's stock worth $1,121,000 after acquiring an additional 300 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its position in QUALCOMM by 0.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 18,797 shares of the wireless technology company's stock worth $2,902,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 1.0%

QCOM traded up $1.43 during trading hours on Friday, hitting $148.19. 12,700,280 shares of the company's stock were exchanged, compared to its average volume of 8,379,979. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The firm has a 50 day moving average of $155.11 and a 200 day moving average of $154.81. The firm has a market cap of $159.90 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given 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 currently 34.33%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wells Fargo & Company decreased their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $181.10.

Insider Buying and Selling at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction 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 transaction, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock valued at $8,324,591. Insiders own 0.08% of the company's stock.

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.