QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by Leith Wheeler Investment Counsel Ltd.

Key Points

• Leith Wheeler Investment Counsel Ltd. has increased its stake in QUALCOMM by 3.0%, holding 211,573 shares valued at approximately $32.5 million.
• QUALCOMM reported $2.77 EPS for the latest quarter, exceeding estimates, with a revenue of $10.37 billion, reflecting a 10.4% year-over-year growth.
• The company has declared a quarterly dividend of $0.89 per share, which will be paid on September 25th, representing an annualized dividend yield of 2.3%.

Leith Wheeler Investment Counsel Ltd. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 211,573 shares of the wireless technology company's stock after acquiring an additional 6,129 shares during the period. QUALCOMM accounts for 2.3% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 12th biggest holding. Leith Wheeler Investment Counsel Ltd.'s holdings in QUALCOMM were worth $32,500,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after acquiring an additional 105,631 shares during the last quarter. PFG Advisors grew its position in QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after buying an additional 321 shares in the last quarter. Teza Capital Management LLC bought a new position in QUALCOMM in the 4th quarter valued at about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in QUALCOMM by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after buying an additional 145,509 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

QCOM stock opened at $153.73 on Wednesday. The firm has a 50-day moving average of $155.20 and a two-hundred day moving average of $153.89. 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 firm has a market capitalization of $165.87 billion, a PE ratio of 14.82, a P/E/G ratio of 2.16 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10.

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

QUALCOMM Dividend Announcement

The business also recently declared 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. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, July 31st. Finally, 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 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. Based on data from MarketBeat, QUALCOMM has an average rating of "Hold" and a consensus price target of $181.10.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by company insiders.

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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