Candriam S.C.A. Purchases 282,825 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Candriam S.C.A. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 86.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 609,642 shares of the wireless technology company’s stock after buying an additional 282,825 shares during the period. QUALCOMM comprises 0.7% of Candriam S.C.A.’s portfolio, making the stock its 27th largest holding. Candriam S.C.A.’s holdings in QUALCOMM were worth $121,423,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc raised its holdings in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the period. Buffington Mohr McNeal increased its position in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after buying an additional 53 shares in the last quarter. TRUE Private Wealth Advisors raised its stake in shares of QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares during the period. Macroview Investment Management LLC lifted its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.19 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50-day moving average price is $179.95 and its 200-day moving average price is $181.35. The company has a market cap of $176.22 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. KeyCorp raised their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. Robert W. Baird upped their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Piper Sandler reissued an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 over the last three months. 0.08% of the stock is owned by company 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.