QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 133,399 shares of the wireless technology company’s stock after acquiring an additional 14,378 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in QUALCOMM were worth $26,570,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of QCOM. City Holding Co. increased its stake in shares of QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after acquiring an additional 199 shares during the period. Bard Financial Services Inc. raised its stake in shares of QUALCOMM by 0.4% during the 4th quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock worth $5,032,000 after buying an additional 125 shares in the last quarter. BNP Paribas purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $3,104,000. SWP Financial LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $593,000. Finally, Horizon Investment Services LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at approximately $3,832,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. Mizuho increased their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $210.63.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 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 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.9 %

QCOM stock opened at $164.98 on Friday. The stock has a market capitalization of $183.79 billion, a P/E ratio of 22.17, a PEG ratio of 1.82 and a beta of 1.28. The company has a 50 day moving average price of $176.88 and a two-hundred day moving average price of $181.63. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.