Los Angeles Capital Management LLC Has $123.63 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Los Angeles Capital Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 56.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 804,811 shares of the wireless technology company's stock after buying an additional 290,244 shares during the quarter. Los Angeles Capital Management LLC owned about 0.07% of QUALCOMM worth $123,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its position 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 valued at $26,000 after buying an additional 70 shares during 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. acquired a new stake in QUALCOMM during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was 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. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.19 during trading hours on Friday, reaching $154.80. 7,429,971 shares of the company's stock were exchanged, compared to its average volume of 8,480,495. The company has a market cap of $169.97 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. The company's 50 day moving average is $153.95 and its two-hundred day moving average is $154.98. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $196.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

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

QUALCOMM Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM's payout ratio is 36.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on QCOM shares. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a report on Thursday. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One equities 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $186.00.

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.