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Knights of Columbus Asset Advisors LLC Has $8.93 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM logo with Computer and Technology background

Key Points

  • Knights of Columbus Asset Advisors LLC increased its stake in QUALCOMM by 29.2%, owning 58,162 shares valued at approximately $8.93 million after acquiring an additional 13,133 shares.
  • Insider activity at QUALCOMM saw major shareholder Inc/De Qualcomm selling 412,500 shares for $6.6 million, while CFO Akash J. Palkhiwala sold 3,333 shares, decreasing his holdings by 6.7%.
  • QUALCOMM announced a $0.89 quarterly dividend set to be paid on September 25th, representing a 2.24% yield based on a current payout ratio of 36.25%.
  • Five stocks to consider instead of QUALCOMM.
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Knights of Columbus Asset Advisors LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,162 shares of the wireless technology company's stock after buying an additional 13,133 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in QUALCOMM were worth $8,934,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bell & Brown Wealth Advisors LLC lifted its stake in QUALCOMM by 1.6% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 45,601 shares of the wireless technology company's stock valued at $7,005,000 after buying an additional 700 shares during the period. Syntax Research Inc. lifted its stake in QUALCOMM by 209.7% in the first quarter. Syntax Research Inc. now owns 14,843 shares of the wireless technology company's stock valued at $2,280,000 after buying an additional 10,051 shares during the period. Private Management Group Inc. lifted its stake in QUALCOMM by 32.8% in the first quarter. Private Management Group Inc. now owns 2,191 shares of the wireless technology company's stock valued at $337,000 after buying an additional 541 shares during the period. Trilogy Capital Inc. increased its holdings in shares of QUALCOMM by 3.6% during the first quarter. Trilogy Capital Inc. now owns 21,243 shares of the wireless technology company's stock valued at $3,263,000 after acquiring an additional 732 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of QUALCOMM by 2.0% during the first quarter. Assetmark Inc. now owns 576,677 shares of the wireless technology company's stock valued at $88,583,000 after acquiring an additional 11,302 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's 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 of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,310,735 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QCOM shares. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Loop Capital decreased 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. Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Susquehanna dropped their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $184.86.

View Our Latest Research Report on QCOM

QUALCOMM Stock Down 0.3%

Shares of QCOM traded down $0.44 during midday trading on Friday, hitting $158.40. The company had a trading volume of 4,805,669 shares, compared to its average volume of 7,220,092. 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 Incorporated has a 52 week low of $120.80 and a 52 week high of $182.64. The company's 50 day moving average price is $154.60 and its 200 day moving average price is $155.03. The stock has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.05 and a beta of 1.26.

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

QUALCOMM Announces Dividend

The business 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 2.25%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is presently 36.25%.

QUALCOMM Profile

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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