QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management increased its position in QUALCOMM by 62.3%, holding a total value of $1.25 million in shares after purchasing additional shares during the first quarter.
• QUALCOMM's recent earnings report showed an EPS of $2.77, surpassing estimates, with revenue increasing by 10.4% compared to the previous year.
• A quarterly dividend of $0.89 per share has been announced, with a dividend yield of 2.4% and a payout ratio of 34.33%.

Longfellow Investment Management Co. LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 62.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,130 shares of the wireless technology company's stock after buying an additional 3,121 shares during the period. Longfellow Investment Management Co. LLC's holdings in QUALCOMM were worth $1,249,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in QCOM. Brighton Jones LLC lifted its position in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC lifted its position in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares during the period. Rockefeller Capital Management L.P. lifted its position in QUALCOMM by 10.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 367,046 shares of the wireless technology company's stock valued at $56,391,000 after purchasing an additional 35,124 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in QUALCOMM in the fourth quarter valued at about $999,000. Finally, Advisors Capital Management LLC lifted its position in QUALCOMM by 3.2% in the fourth quarter. Advisors Capital Management LLC now owns 445,768 shares of the wireless technology company's stock valued at $68,479,000 after purchasing an additional 13,931 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QCOM. Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company dropped their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Mizuho dropped their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $181.10.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the transaction, the chief financial officer owned 43,207 shares in the company, valued at $6,398,956.70. This trade represents a 7.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 3.9%

NASDAQ QCOM traded up $5.76 during mid-day trading on Tuesday, reaching $153.73. 9,303,080 shares of the stock were exchanged, compared to its average volume of 8,639,778. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The business's fifty day simple moving average is $155.20 and its 200 day simple moving average is $153.89. The stock has a market capitalization of $165.87 billion, a PE ratio of 14.82, a PEG ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) 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 firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $2.33 earnings per share. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal 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 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 yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

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.