Ballentine Partners LLC Buys 1,286 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ballentine Partners LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,838 shares of the wireless technology company’s stock after purchasing an additional 1,286 shares during the period. Ballentine Partners LLC’s holdings in QUALCOMM were worth $4,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. Financial Connections Group Inc. purchased a new position in QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC lifted its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 3.4 %

NASDAQ:QCOM traded down $5.51 during trading hours on Friday, reaching $158.19. 10,703,047 shares of the company traded hands, compared to its average volume of 9,279,430. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $179.95 and its two-hundred day moving average price is $181.55. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock has a market capitalization of $176.54 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

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 given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last three months. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on QCOM shares. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Susquehanna raised their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Rosenblatt Securities upped 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. Finally, Tigress Financial lifted their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

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.