QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by Spectrum Financial Alliance Ltd LLC

Key Points

• Spectrum Financial Alliance Ltd LLC has increased its stake in QUALCOMM by 5.3%, now holding 275,028 shares, which represents 13.7% of its investment portfolio.
• QUALCOMM reported a quarterly EPS of $2.85, surpassing estimates, with revenue reaching $10.98 billion, a year-over-year increase of 17%.
• The company announced a quarterly dividend of $0.89 per share, with a dividend yield of 2.25% and a payout ratio of 36.25%.

Spectrum Financial Alliance Ltd LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 275,028 shares of the wireless technology company's stock after acquiring an additional 13,911 shares during the quarter. QUALCOMM accounts for 13.7% of Spectrum Financial Alliance Ltd LLC's investment portfolio, making the stock its 4th largest position. Spectrum Financial Alliance Ltd LLC's holdings in QUALCOMM were worth $42,247,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in QCOM. OVERSEA CHINESE BANKING Corp Ltd increased its stake in QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after purchasing an additional 105,631 shares during the period. PFG Advisors grew its holdings in shares of QUALCOMM by 8.0% in the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after purchasing an additional 321 shares in the last quarter. Teza Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after buying an additional 6,017 shares during the period. Finally, Kanawha Capital Management LLC lifted its holdings in QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock worth $13,120,000 after buying an additional 1,573 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.40 on Friday. The stock has a market cap of $173.92 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.05 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.64. The stock has a 50 day moving average of $154.60 and a two-hundred day moving average of $155.03. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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 paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QCOM. Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $184.86.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 over the last quarter. 0.08% of the stock is currently owned by insiders.

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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