656 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Family Firm Inc.

Family Firm Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 656 shares of the wireless technology company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in QUALCOMM in the fourth quarter worth $2,507,978,000. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the 1st quarter valued at about $1,171,516,000. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 1,909,025 shares during the period. Van ECK Associates Corp boosted its holdings in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in QUALCOMM in the first quarter valued at approximately $238,770,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QCOM traded up $4.50 during trading hours on Friday, hitting $173.50. The stock had a trading volume of 6,823,561 shares, compared to its average volume of 9,308,624. The stock has a market cap of $193.63 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $188.22 and its 200 day simple moving average is $180.11.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 1.96%. QUALCOMM’s payout ratio is 45.70%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. UBS Group raised their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays boosted 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. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity

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 value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

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.