QUALCOMM Incorporated $QCOM Shares Bought by Park Place Capital Corp

Key Points

• Park Place Capital Corp increased its position in Qualcomm shares by an impressive 1,682.7%, ending the quarter with 7,095 shares valued at approximately $1.13 million.
• QUALCOMM reported a quarterly earnings per share (EPS) of $2.77, surpassing analyst expectations and marking a 10.4% year-over-year revenue growth to $10.37 billion.
• The company announced a quarterly dividend of $0.89, yielding 2.2% annually, with a payout ratio currently at 34.33%.

Park Place Capital Corp boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1,682.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,095 shares of the wireless technology company's stock after buying an additional 6,697 shares during the period. Park Place Capital Corp's holdings in QUALCOMM were worth $1,131,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after buying an additional 93 shares in the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. Atticus Wealth Management LLC increased its stake in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company's stock worth $34,000 after buying an additional 212 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in QUALCOMM during the 1st quarter worth approximately $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 2.3%

QCOM opened at $165.30 on Tuesday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The stock has a market capitalization of $178.36 billion, a PE ratio of 15.94, a P/E/G ratio of 2.45 and a beta of 1.21. The business's 50 day moving average price is $158.79 and its 200 day moving average price is $152.94. 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 released 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. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm's quarterly revenue was up 10.4% on a year-over-year basis. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were issued a $0.89 dividend. The ex-dividend date was Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.2%. QUALCOMM's dividend payout ratio is currently 34.33%.

Insiders Place Their Bets

In related news, CAO Patricia Y. Grech sold 273 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the transaction, the chief accounting officer directly owned 404 shares in the company, valued at approximately $65,213.68. This represents a 40.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $156.86, for a total value of $522,814.38. Following the completion of the transaction, the chief financial officer owned 39,874 shares in the company, valued at $6,254,635.64. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,100 shares of company stock valued at $2,026,291. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. UBS Group upped their price target on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Citigroup restated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Arete Research set a $200.00 price target on QUALCOMM in a research report on Tuesday, August 26th. Finally, Mizuho dropped their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.82.

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.

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