QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by Syntax Research Inc.

Key Points

• Syntax Research Inc. significantly increased its holdings in QUALCOMM by 209.7% during the first quarter, now owning 14,843 shares valued at approximately $2.28 million.
• Insider Heather S. Ace sold 1,600 shares of QUALCOMM at an average price of $137.74, reducing their ownership by 6.56%.
• QUALCOMM recently announced a quarterly dividend of $0.89, which is set to yield 2.24% on an annual basis, supported by a dividend payout ratio of 36.25%.

Syntax Research Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 209.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,843 shares of the wireless technology company's stock after buying an additional 10,051 shares during the quarter. QUALCOMM accounts for 1.6% of Syntax Research Inc.'s portfolio, making the stock its 27th largest position. Syntax Research Inc.'s holdings in QUALCOMM were worth $2,280,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QCOM. Banque Transatlantique SA acquired a new position in QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings 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 worth $26,000 after buying an additional 70 shares in the last quarter. WFA Asset Management Corp acquired a new position in QUALCOMM in the 1st quarter worth $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM in the 4th quarter worth $30,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value 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 approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on QCOM shares. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.3%

Shares of QCOM traded down $0.44 during midday trading on Friday, hitting $158.40. 4,805,669 shares of the company's stock traded hands, compared to its average volume of 7,220,092. The stock has a market capitalization of $173.92 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average is $154.60 and its 200-day moving average is $155.03. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.64.

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

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM's payout ratio is currently 36.25%.

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.