Maxi Investments CY Ltd Purchases 7,900 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Maxi Investments CY Ltd increased its stake in QUALCOMM by 226.4% in Q1, acquiring an additional 7,900 shares, bringing their total ownership to 11,390 shares valued at approximately $1.75 million.
• QUALCOMM's recent earnings report indicated an EPS of $2.77, exceeding expectations and showing a 10.4% year-over-year revenue increase, totaling $10.37 billion.
• The company declared a quarterly dividend of $0.89 per share, set to be paid on September 25th, with an annualized yield of 2.4%.

Maxi Investments CY Ltd grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 226.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,390 shares of the wireless technology company's stock after acquiring an additional 7,900 shares during the period. Maxi Investments CY Ltd's holdings in QUALCOMM were worth $1,750,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its position in QUALCOMM by 22.4% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 5,376 shares of the wireless technology company's stock worth $826,000 after purchasing an additional 983 shares during the last quarter. Costello Asset Management INC raised its position in QUALCOMM by 128.6% during the 1st quarter. Costello Asset Management INC now owns 926 shares of the wireless technology company's stock worth $142,000 after purchasing an additional 521 shares during the last quarter. Advyzon Investment Management LLC bought a new position in QUALCOMM during the 1st quarter worth $309,000. New Age Alpha Advisors LLC bought a new position in QUALCOMM during the 1st quarter worth $3,914,000. Finally, Thoroughbred Financial Services LLC raised its position in QUALCOMM by 0.3% during the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after purchasing an additional 69 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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 $8,352,355. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $147.51 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The stock has a 50-day moving average of $155.15 and a 200-day moving average of $154.70. The company has a market cap of $159.16 billion, a PE ratio of 14.22, a P/E/G ratio of 2.18 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10.

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. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on QCOM shares. Piper Sandler lowered their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. One 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.com, QUALCOMM currently has an average rating of "Hold" and an average target price of $181.10.

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.

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