S Bank Fund Management Ltd Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• S Bank Fund Management Ltd has acquired a new position in QUALCOMM, purchasing 23,450 shares valued at approximately $3.6 million.
• Insider transactions reveal significant share sales, including 1,600 shares sold by Heather S. Ace at an average price of $146.40, indicating a 7.02% decrease in her ownership.
• QUALCOMM reported $2.77 earnings per share (EPS) for the last quarter, exceeding expectations, and declared a quarterly dividend of $0.89 per share to be paid on September 25th.

S Bank Fund Management Ltd bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,450 shares of the wireless technology company's stock, valued at approximately $3,602,000.

Other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth about $27,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC increased its stake in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares during the period. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In related 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 value of $234,240.00. Following the transaction, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The sale 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 stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock worth $8,352,355. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $153.73 on Wednesday. The stock has a market capitalization of $165.87 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.16 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The stock's 50 day moving average price is $155.20 and its two-hundred day moving average price is $153.89. 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 quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The firm 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 company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 EPS. On average, equities analysts predict 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 issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 34.33%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. Mizuho lowered their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Evercore ISI reduced their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $181.10.

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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