QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by CCG Wealth Management LLC

CCG Wealth Management LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,816 shares of the wireless technology company’s stock after purchasing an additional 121 shares during the quarter. CCG Wealth Management LLC’s holdings in QUALCOMM were worth $760,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. City Holding Co. raised its stake in shares of QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares during the period. Bard Financial Services Inc. lifted its stake in shares of QUALCOMM by 0.4% during the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock worth $5,032,000 after purchasing an additional 125 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $296,000. BNP Paribas acquired a new stake in shares of QUALCOMM in the first quarter valued at about $3,104,000. Finally, SWP Financial LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $593,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $5.81 during mid-day trading on Friday, reaching $175.30. 11,110,813 shares of the company’s stock traded hands, compared to its average volume of 8,558,643. 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 business’s 50-day moving average price is $183.33 and its 200-day moving average price is $181.14. The stock has a market capitalization of $195.28 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.93 and a beta of 1.27. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business 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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. KeyCorp upped their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Bank of America lifted their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup boosted their price target on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Tigress Financial lifted their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was 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 approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was 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 directly owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,496,590 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.