Sara Bay Financial Invests $213,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Sara Bay Financial purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,071 shares of the wireless technology company’s stock, valued at approximately $213,000.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Norges Bank purchased a new stake in shares of QUALCOMM in the fourth quarter worth $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM in the first quarter worth $1,171,516,000. Putnam Investments LLC boosted its stake in QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after buying an additional 263,482 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in QUALCOMM by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock worth $913,752,000 after buying an additional 259,403 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Citigroup increased their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,185 shares of company stock valued at $4,332,134. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 1.2 %

Shares of NASDAQ QCOM traded up $2.08 on Monday, reaching $174.26. 6,689,127 shares of the company’s stock traded hands, compared to its average volume of 9,378,560. The business’s 50 day simple moving average is $192.28 and its two-hundred day simple moving average is $179.57. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a market cap of $194.47 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.27. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM Announces Dividend

The company 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. This represents a $3.40 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.