6,230 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT acquired a new stake in QUALCOMM, purchasing 6,230 shares valued at approximately $957,000 during the first quarter.
• QUALCOMM's latest quarterly earnings report indicated a growth in revenue by 10.4% year-over-year, with earnings per share at $2.77, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.89 per share, set to be paid on September 25th, representing a 2.4% dividend yield and demonstrating a payout ratio of 34.33%.

Zions Bancorporation National Association UT purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,230 shares of the wireless technology company's stock, valued at approximately $957,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares during the period. F M Investments LLC raised its position in shares of QUALCOMM by 40.9% in the 4th quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company's stock valued at $1,733,000 after acquiring an additional 3,272 shares during the period. NFP Retirement Inc. boosted its position in shares of QUALCOMM by 14.5% during the fourth quarter. NFP Retirement Inc. now owns 1,868 shares of the wireless technology company's stock worth $287,000 after purchasing an additional 236 shares in the last quarter. Finally, Petros Family Wealth LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $491,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.66 during trading on Friday, hitting $147.56. 5,026,408 shares of the company were exchanged, compared to its average volume of 8,698,109. The firm has a 50 day moving average price of $155.07 and a 200 day moving average price of $154.06. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $159.22 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 2.15 and a beta of 1.23. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $2.33 earnings per share. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on QCOM shares. UBS Group lifted their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Susquehanna lowered their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler lowered their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, twelve 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 a consensus price target of $181.10.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's 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. Insiders have 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 owned by corporate insiders.

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.