Paloma Partners Management Co Buys New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Paloma Partners Management Co bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, Holdings Channel reports. The firm bought 1,226 shares of the wireless technology company’s stock, valued at approximately $208,000.

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

QUALCOMM Stock Performance

Shares of QCOM stock traded down $7.90 during midday trading on Tuesday, hitting $170.74. The company had a trading volume of 3,984,820 shares, compared to its average volume of 9,129,318. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market cap of $190.55 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.19 and a beta of 1.27. The company’s 50 day simple moving average is $203.81 and its 200 day simple moving average is $177.81.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Argus lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Barclays lifted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna raised their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, TD Cowen raised their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.63.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,552,835 over the last three months. 0.08% of the stock is currently 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.