QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 125.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,329 shares of the wireless technology company's stock after buying an additional 12,419 shares during the quarter. Legato Capital Management LLC's holdings in QUALCOMM were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Susquehanna decreased their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Bank of America cut their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Finally, Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $184.86.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last ninety days. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.7%

Shares of QCOM traded down $1.04 during midday trading on Thursday, hitting $158.84. 5,007,384 shares of the company's stock traded hands, compared to its average volume of 8,366,726. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.64. The firm's fifty day moving average is $154.35 and its 200-day moving average is $155.05. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $174.41 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.

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

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is 36.25%.

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.