QUALCOMM Incorporated $QCOM Shares Purchased by Texas Capital Bank Wealth Management Services Inc

Key Points

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Texas Capital Bank Wealth Management Services Inc increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,793 shares of the wireless technology company's stock after purchasing an additional 1,629 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in QUALCOMM were worth $890,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after acquiring an additional 105,631 shares during the period. PFG Advisors lifted its holdings in QUALCOMM by 8.0% in the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after acquiring an additional 321 shares during the period. Teza Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in QUALCOMM by 3.3% in the first 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 acquiring an additional 6,017 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in QUALCOMM by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after acquiring an additional 145,509 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.7%

QUALCOMM stock opened at $158.90 on Tuesday. The stock has a market cap of $171.45 billion, a PE ratio of 15.32, a P/E/G ratio of 2.30 and a beta of 1.23. The stock has a 50-day moving average price of $155.80 and a 200 day moving average price of $153.38. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

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, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The company had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The firm's revenue was up 10.4% on a year-over-year basis. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. QUALCOMM's dividend payout ratio is currently 34.33%.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,352,355 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on QCOM. Piper Sandler reduced their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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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