MJP Associates Inc. ADV Buys 285 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

MJP Associates Inc. ADV increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,438 shares of the wireless technology company’s stock after buying an additional 285 shares during the quarter. MJP Associates Inc. ADV’s holdings in QUALCOMM were worth $486,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC increased its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Finally, Richardson Capital Management LLC purchased a new stake in QUALCOMM in the first quarter worth $37,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 31,285 shares of company stock valued at $5,871,215 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Citigroup raised their price target on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley raised their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. Finally, UBS Group raised their price target on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Down 0.3 %

NASDAQ QCOM traded down $0.47 during trading on Friday, hitting $164.48. The company’s stock had a trading volume of 4,824,606 shares, compared to its average volume of 10,988,206. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a market cap of $183.56 billion, a PE ratio of 22.11, a P/E/G ratio of 1.74 and a beta of 1.27. The business’s 50 day simple moving average is $196.15 and its 200-day simple moving average is $178.90. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 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.