1,226 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Paloma Partners Management Co

Paloma Partners Management Co acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,226 shares of the wireless technology company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently bought and sold shares of QCOM. Peoples Bank OH purchased a new stake in QUALCOMM in the 4th quarter worth approximately $219,000. Bank Hapoalim BM lifted its stake in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC lifted its stake in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares in the last quarter. Alexander Randolph Advisory Inc. purchased a new stake in QUALCOMM in the 4th quarter worth approximately $305,000. Finally, City Holding Co. lifted its stake in QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Susquehanna increased their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Wolfe Research increased their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. UBS Group lifted their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald increased their price objective on QUALCOMM from $190.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI started coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $199.63.

QUALCOMM Trading Down 4.4 %

QCOM traded down $7.90 during midday trading on Tuesday, reaching $170.74. 3,984,820 shares of the company’s stock traded hands, compared to its average volume of 9,129,318. The firm has a fifty day moving average of $203.81 and a two-hundred day moving average of $177.81. The stock has a market capitalization of $190.55 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by company insiders.

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.