Vanguard Group Inc. Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Vanguard Group Inc. has increased its stake in QUALCOMM by 0.6%, owning approximately 114.37 million shares worth about $17.57 billion.
• QUALCOMM recently reported a quarterly EPS of $2.77, exceeding analyst expectations, and experienced a year-over-year revenue increase of 10.4%.
• The company announced a quarterly dividend of $0.89 per share, reflecting a 2.4% dividend yield and a payout ratio of 34.33%.

Vanguard Group Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,368,470 shares of the wireless technology company's stock after buying an additional 638,284 shares during the quarter. Vanguard Group Inc. owned about 10.42% of QUALCOMM worth $17,568,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QCOM. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings 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 valued at $26,000 after buying an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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 represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent research reports. UBS Group lifted their target price on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Loop Capital decreased their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup reissued a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $181.10.

QUALCOMM Stock Down 0.6%

Shares of QCOM traded down $0.87 during trading hours on Wednesday, hitting $145.84. The company had a trading volume of 8,450,254 shares, compared to its average volume of 8,473,886. The company has a market capitalization of $157.36 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23. 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 Incorporated has a one year low of $120.80 and a one year high of $182.10. The company's fifty day moving average price is $155.08 and its two-hundred day moving average price is $154.58.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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 firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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 of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is currently 34.33%.

QUALCOMM 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.