Qtron Investments LLC Acquires 2,569 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Qtron Investments LLC increased its stake in QUALCOMM by 18.7%, acquiring 2,569 additional shares, bringing its total holdings to 16,299 shares valued at $2,504,000.
• Major shareholders and insiders have sold a substantial amount of QUALCOMM stock, with insiders selling 424,099 shares valued at over $8.3 million in the last ninety days.
• QUALCOMM recently reported quarterly earnings of $2.77 per share, exceeding estimates, and announced a $0.89 quarterly dividend set to be paid on September 25th.

Qtron Investments LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,299 shares of the wireless technology company's stock after purchasing an additional 2,569 shares during the period. Qtron Investments LLC's holdings in QUALCOMM were worth $2,504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Banque Transatlantique SA acquired a new position in QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of QUALCOMM by 70.0% in the first 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 last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth approximately $27,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $30,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock valued at $8,352,355. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $157.85 on Monday. The stock has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $153.48. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The firm has a market cap of $170.32 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company earned $2.33 earnings per share. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is 34.33%.

Analysts Set New Price Targets

Several analysts have recently commented on QCOM shares. UBS Group increased their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Bank of America lowered their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Wells Fargo & Company lowered their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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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