QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in QUALCOMM by 15.9%, acquiring an additional 25,009 shares, bringing its total holdings to 182,688 shares valued at approximately $28.06 million.
• Insider transactions included CFO Akash J. Palkhiwala selling 3,333 shares at around $148.10, resulting in a 7.16% decrease in his ownership of the stock.
• QUALCOMM's latest earnings report showed earnings per share of $2.77, exceeding analysts' estimates, with a revenue of $10.37 billion for the quarter, reflecting a 10.4% year-over-year increase.

Townsquare Capital LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,688 shares of the wireless technology company's stock after acquiring an additional 25,009 shares during the period. Townsquare Capital LLC's holdings in QUALCOMM were worth $28,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Brighton Jones LLC boosted its stake in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC boosted its position in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares during the period. F M Investments LLC boosted its position in QUALCOMM by 40.9% during the 4th quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company's stock worth $1,733,000 after acquiring an additional 3,272 shares during the period. Scotia Capital Inc. grew its stake in shares of QUALCOMM by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company's stock worth $19,855,000 after purchasing an additional 890 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of QUALCOMM by 15.1% during the fourth quarter. LSV Asset Management now owns 2,989,072 shares of the wireless technology company's stock valued at $459,181,000 after purchasing an additional 392,802 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the transaction, the chief financial officer directly owned 43,207 shares of the company's stock, valued at $6,398,956.70. This represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's 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 424,099 shares of company stock worth $8,352,355 over the last ninety days. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. UBS Group upped their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Susquehanna lowered their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Mizuho decreased their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Trading Up 0.0%

Shares of QCOM opened at $145.90 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The firm has a market cap of $157.43 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.13 and a beta of 1.23. The business's fifty day moving average is $155.03 and its 200-day moving average is $154.45.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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

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.

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