1832 Asset Management L.P. Purchases 1,729 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

1832 Asset Management L.P. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,862 shares of the wireless technology company’s stock after buying an additional 1,729 shares during the quarter. 1832 Asset Management L.P.’s holdings in QUALCOMM were worth $2,516,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its position in shares of QUALCOMM by 0.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 74,242 shares of the wireless technology company’s stock valued at $10,738,000 after buying an additional 561 shares during the period. WT Asset Management Ltd bought a new position in QUALCOMM in the 4th quarter valued at $62,048,000. Columbus Macro LLC increased its stake in QUALCOMM by 25.4% in the fourth quarter. Columbus Macro LLC now owns 15,909 shares of the wireless technology company’s stock worth $2,285,000 after purchasing an additional 3,219 shares during the period. ICICI Prudential Asset Management Co Ltd increased its stake in QUALCOMM by 8.8% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 10,802 shares of the wireless technology company’s stock worth $1,562,000 after purchasing an additional 872 shares during the period. Finally, Strategic Advisors LLC lifted its position in shares of QUALCOMM by 3.7% during the fourth quarter. Strategic Advisors LLC now owns 5,226 shares of the wireless technology company’s stock worth $756,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,552,835 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 2.7 %

Shares of NASDAQ QCOM traded up $4.66 on Friday, reaching $180.05. 6,567,842 shares of the company traded hands, compared to its average volume of 8,034,185. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $200.94 billion, a PE ratio of 24.20, a P/E/G ratio of 2.19 and a beta of 1.27. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a 50 day moving average of $204.19 and a 200 day moving average of $177.26.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Wolfe Research raised their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

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.