QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in QUALCOMM by 2.0% to 576,677 shares, valued at approximately $88.58 million, highlighting ongoing institutional interest in the company.
• QUALCOMM's stock has decreased by 0.3%, and its market capitalization currently stands at $173.92 billion with a price-to-earnings ratio of 16.13.
• The company announced a quarterly dividend of $0.89 per share, with an annualized dividend yield of 2.25%, reflecting a payout ratio of 36.25%.

Assetmark Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 576,677 shares of the wireless technology company's stock after buying an additional 11,302 shares during the period. Assetmark Inc. owned approximately 0.05% of QUALCOMM worth $88,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of 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 valued at $26,000 after purchasing an additional 70 shares during the period. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 0.3%

Shares of NASDAQ QCOM traded down $0.44 during midday trading on Friday, reaching $158.40. 4,805,669 shares of the company's stock traded hands, compared to its average volume of 7,220,092. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The stock's 50 day simple moving average is $154.60 and its 200-day simple moving average is $155.03. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.64. The company has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company 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 was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm 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 dividend of $0.89 per share. The ex-dividend date 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 presently 36.25%.

Analyst Ratings Changes

Several research analysts have weighed in on QCOM shares. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Loop Capital lowered their price target 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. UBS Group increased their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Monday. TD Cowen lowered 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. Finally, Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $184.86.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were 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 owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business'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. Over the last quarter, insiders sold 424,099 shares of company stock valued at $8,310,735. Corporate insiders own 0.08% of the company's stock.

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.