QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by FCG Investment Co

Key Points

• FCG Investment Co increased its stake in QUALCOMM shares by 45.2%, acquiring an additional 3,629 shares, bringing their total ownership to $1.79 million.
• Insider trading reports showed that executives sold a total of 424,099 shares of QUALCOMM stock valued at over $8.35 million in the last three months.
• QUALCOMM announced a quarterly dividend of $0.89, with an ex-dividend date of September 4th, yielding an annualized amount of $3.56.

FCG Investment Co raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 45.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,659 shares of the wireless technology company's stock after acquiring an additional 3,629 shares during the period. QUALCOMM makes up 1.1% of FCG Investment Co's holdings, making the stock its 26th biggest holding. FCG Investment Co's holdings in QUALCOMM were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in QCOM. Vanguard Group Inc. boosted its stake in shares of QUALCOMM by 0.6% in the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock valued at $17,568,141,000 after purchasing an additional 638,284 shares during the period. Northern Trust Corp raised its holdings in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. Invesco Ltd. raised its holdings in QUALCOMM by 2.2% during the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock worth $1,512,458,000 after purchasing an additional 215,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in QUALCOMM by 17.0% during the fourth 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 worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in QUALCOMM by 11.2% during the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock worth $1,331,170,000 after purchasing an additional 875,412 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the 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 transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,352,355 in the last three months. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.2%

QCOM opened at $157.85 on Friday. The firm has a 50 day moving average price of $155.73 and a 200 day moving average price of $153.60. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The company has a market cap of $170.32 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. 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 (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for 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%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $2.33 earnings per share. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is currently 34.33%.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. Sanford C. Bernstein set a $185.00 target price on shares of QUALCOMM and gave the company an "outperform" rating in a report on Monday, July 28th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark lowered their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Finally, Susquehanna decreased their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $181.10.

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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