MASTERINVEST Kapitalanlage GmbH bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,463 shares of the wireless technology company’s stock, valued at approximately $3,896,000.
Other hedge funds also recently modified their holdings of the company. Carter Financial Group INC. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $210,000. Stance Capital LLC acquired a new position in QUALCOMM during the second quarter worth $1,324,000. Cim Investment Management Inc. raised its holdings in QUALCOMM by 99.7% during the second quarter. Cim Investment Management Inc. now owns 15,128 shares of the wireless technology company’s stock valued at $2,367,000 after buying an additional 7,551 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of QUALCOMM by 4.3% in the second quarter. Pathway Financial Advisers LLC now owns 14,753 shares of the wireless technology company’s stock worth $2,350,000 after buying an additional 613 shares during the last quarter. Finally, North Dallas Bank & Trust Co. bought a new stake in shares of QUALCOMM during the 2nd quarter worth about $256,000. Institutional investors and hedge funds own 74.35% of the company’s stock.
QUALCOMM Stock Performance
NASDAQ QCOM opened at $178.29 on Friday. The company’s fifty day moving average is $170.72 and its two-hundred day moving average is $162.21. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.82 and a quick ratio of 2.10. The firm has a market capitalization of $190.95 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 3.91 and a beta of 1.22.
QUALCOMM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio (DPR) is currently 72.80%.
Insider Transactions at QUALCOMM
In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of QUALCOMM stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the sale, the chief executive officer owned 149,304 shares in the company, valued at $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Patricia Y. Grech sold 203 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $170.00, for a total transaction of $34,510.00. The SEC filing for this sale provides additional information. Insiders sold a total of 164,388 shares of company stock worth $27,248,752 over the last quarter. 0.08% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on QCOM shares. Bank of America raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Mizuho boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Arete Research set a $200.00 target price on shares of QUALCOMM in a report on Tuesday, August 26th. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, November 6th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.00.
Read Our Latest Research Report on QUALCOMM
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.
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