LSV Asset Management Buys 319,392 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• LSV Asset Management increased its stake in QUALCOMM by **10.7%** in Q1, acquiring an additional **319,392 shares**, bringing its total to **3,308,464 shares**.
• QUALCOMM recently reported **$2.77 EPS**, exceeding expectations, with a revenue of **$10.37 billion**, reflecting a **10.4% year-over-year increase**.
• The company announced a quarterly dividend of **$0.89 per share**, yielding approximately **2.4%**, to be paid on **September 25th**.

LSV Asset Management increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,308,464 shares of the wireless technology company's stock after buying an additional 319,392 shares during the quarter. QUALCOMM comprises approximately 1.2% of LSV Asset Management's investment portfolio, making the stock its 10th biggest position. LSV Asset Management owned about 0.30% of QUALCOMM worth $508,213,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. UBS Group increased their price target on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen upgraded QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Loop Capital dropped their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Mizuho dropped their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $182.48.

QUALCOMM Stock Performance

QCOM stock opened at $148.19 on Friday. The stock has a 50-day moving average price of $155.11 and a 200-day moving average price of $154.93. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.08 and a debt-to-equity ratio of 0.54. The firm has a market cap of $162.71 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $2.33 EPS. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid 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 2.4%. QUALCOMM's payout ratio is 34.33%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM 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 completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock worth $8,324,591. Insiders own 0.08% of the company's stock.

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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