QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its holdings in QUALCOMM by 4.2%, owning 622,017 shares valued at approximately $95.5 million as of its latest SEC filing.
• QUALCOMM reported $2.77 EPS for its latest quarter, exceeding analyst estimates and showing a year-over-year revenue increase of 10.4%.
• The company declared a quarterly dividend of $0.89, which will be paid out on September 25th, representing a yield of 2.4% and a payout ratio of 34.33%.

Commonwealth Equity Services LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 622,017 shares of the wireless technology company's stock after purchasing an additional 24,859 shares during the period. Commonwealth Equity Services LLC owned 0.06% of QUALCOMM worth $95,548,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after buying an additional 3,247,068 shares in the last quarter. Northern Trust Corp lifted its stake in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after buying an additional 1,424,106 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $204,085,000. Finally, Capital Research Global Investors lifted its stake in shares of QUALCOMM by 525.5% during the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after buying an additional 1,187,531 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the transaction, the chief financial officer owned 43,207 shares in the company, valued at $6,398,956.70. This trade represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on 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. In the last ninety days, insiders sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QCOM shares. Piper Sandler reduced their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. TD Cowen reduced their price objective 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. Bank of America lowered their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Finally, Mizuho lowered their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.75 during mid-day trading on Tuesday, reaching $146.76. The company's stock had a trading volume of 1,602,119 shares, compared to its average volume of 8,487,081. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The firm's fifty day moving average price is $155.15 and its two-hundred day moving average price is $154.70. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $158.36 billion, a P/E ratio of 14.12, a PEG ratio of 2.18 and a beta of 1.23.

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

QUALCOMM Dividend Announcement

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 issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is currently 34.33%.

About QUALCOMM

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.