Pekin Hardy Strauss Inc. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Pekin Hardy Strauss Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,800 shares of the wireless technology company’s stock after buying an additional 875 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in QUALCOMM were worth $956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Moors & Cabot Inc. grew its stake in shares of QUALCOMM by 0.6% in the second quarter. Moors & Cabot Inc. now owns 31,146 shares of the wireless technology company’s stock worth $6,204,000 after acquiring an additional 179 shares during the period. Excalibur Management Corp grew its position in QUALCOMM by 3.0% in the 2nd quarter. Excalibur Management Corp now owns 7,495 shares of the wireless technology company’s stock worth $1,493,000 after purchasing an additional 221 shares during the period. Luts & Greenleigh Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter valued at $548,000. WealthPLAN Partners LLC lifted its holdings in shares of QUALCOMM by 21.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 1,634 shares of the wireless technology company’s stock valued at $325,000 after buying an additional 288 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of QUALCOMM in the 2nd quarter worth $218,456,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $168.70 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a market capitalization of $188.27 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28. The company has a fifty day moving average of $174.52 and a 200 day moving average of $182.15. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Friday, August 2nd. Tigress Financial raised their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.