Quantitative Systematic Strategies LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,415 shares of the wireless technology company’s stock, valued at approximately $202,000.
Several other hedge funds have also recently made changes to their positions in the company. Brookstone Capital Management purchased a new position in QUALCOMM in the 2nd quarter worth approximately $2,755,000. Baird Financial Group Inc. lifted its holdings in shares of QUALCOMM by 13.1% in the first quarter. Baird Financial Group Inc. now owns 883,254 shares of the wireless technology company’s stock worth $117,110,000 after buying an additional 102,003 shares in the last quarter. South Dakota Investment Council lifted its holdings in shares of QUALCOMM by 4.9% in the first quarter. South Dakota Investment Council now owns 17,187 shares of the wireless technology company’s stock worth $2,279,000 after buying an additional 800 shares in the last quarter. Verity & Verity LLC boosted its position in shares of QUALCOMM by 14.6% during the first quarter. Verity & Verity LLC now owns 53,655 shares of the wireless technology company’s stock worth $7,136,000 after acquiring an additional 6,825 shares during the last quarter. Finally, Sei Investments Co. grew its stake in QUALCOMM by 12.3% during the second quarter. Sei Investments Co. now owns 736,346 shares of the wireless technology company’s stock valued at $105,338,000 after acquiring an additional 80,495 shares in the last quarter. Hedge funds and other institutional investors own 71.77% of the company’s stock.
Shares of QCOM opened at $133.88 on Friday. The firm has a market capitalization of $151.02 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.94 and a beta of 1.29. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.72 and a quick ratio of 1.45. QUALCOMM Incorporated has a 1-year low of $111.80 and a 1-year high of $167.94. The company has a 50-day moving average of $143.00 and a 200 day moving average of $137.92.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 23rd. Stockholders of record on Thursday, September 2nd were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Wednesday, September 1st. QUALCOMM’s payout ratio is 81.44%.
QCOM has been the subject of several research reports. Susquehanna Bancshares reissued a “hold” rating and set a $157.00 price objective on shares of QUALCOMM in a report on Thursday, July 29th. The Goldman Sachs Group upgraded QUALCOMM from a “sell” rating to a “neutral” rating and raised their price target for the company from $136.00 to $148.00 in a report on Monday, July 19th. KGI Securities initiated coverage on QUALCOMM in a report on Tuesday, June 29th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $190.00 target price on shares of QUALCOMM in a report on Monday, August 2nd. Finally, Mizuho increased their price objective on shares of QUALCOMM from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $167.81.
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.
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