QUALCOMM Incorporated (NASDAQ:QCOM) Stake Raised by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC increased its holdings in QUALCOMM by 4.3%, owning 475,085 shares valued at approximately $72.98 million, making it the 7th largest position in their portfolio.
• QUALCOMM recently reported $2.77 earnings per share for the quarter, exceeding estimates and showing a 10.4% revenue increase from the previous year.
• The company announced a quarterly dividend of $0.89, representing an annualized yield of 2.4%, with the payment scheduled for September 25th.

Todd Asset Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 475,085 shares of the wireless technology company's stock after acquiring an additional 19,482 shares during the period. QUALCOMM comprises 1.7% of Todd Asset Management LLC's investment portfolio, making the stock its 7th biggest position. Todd Asset Management LLC's holdings in QUALCOMM were worth $72,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of 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 valued at $26,000 after buying an additional 70 shares in the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $30,000. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Loop Capital cut their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group raised their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Trading Up 0.3%

Shares of QCOM traded up $0.41 during trading hours on Monday, reaching $147.97. 6,210,170 shares of the company traded hands, compared to its average volume of 8,698,109. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The company has a market capitalization of $159.66 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The company's fifty day moving average price is $155.10 and its two-hundred day moving average price is $153.89. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly 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 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%. QUALCOMM's revenue was up 10.4% on a year-over-year basis. During the same period last year, the company posted $2.33 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's payout ratio is 34.33%.

Insider Activity at QUALCOMM

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

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.