Johnson Financial Group LLC Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Johnson Financial Group LLC acquired a new stake in QUALCOMM, purchasing 5,080 shares valued at approximately $780,000 during the first quarter of the year.
• Analysts have issued mixed ratings for QUALCOMM, with one sell rating, twelve hold ratings, and eleven buy ratings, along with a current consensus target price of $181.10.
• The company reported earnings of $2.77 per share, beating estimates of $2.71, with a revenue of $10.37 billion for the last quarter, reflecting a year-over-year revenue growth of 10.4%.

Johnson Financial Group LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,080 shares of the wireless technology company's stock, valued at approximately $780,000.

Other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the first quarter worth about $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth about $30,000. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QCOM shares. Loop Capital decreased their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Mizuho reduced their target price on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Trading Up 1.1%

QCOM opened at $147.56 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company's 50 day simple moving average is $155.07 and its two-hundred day simple moving average is $154.31. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The firm has a market capitalization of $159.22 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping 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 business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company posted $2.33 EPS. The business's revenue was up 10.4% on a year-over-year basis. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is currently owned by company 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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