Mystic Asset Management Inc. Buys New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Mystic Asset Management Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,033 shares of the wireless technology company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC lifted its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Richardson Capital Management LLC acquired a new position in QUALCOMM during the 1st quarter valued at about $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in QUALCOMM during the 4th quarter worth approximately $39,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Mizuho lifted their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Up 1.7 %

QUALCOMM stock opened at $167.73 on Friday. The firm has a market capitalization of $186.85 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 1.82 and a beta of 1.28. The firm has a 50 day simple moving average of $176.11 and a 200 day simple moving average of $181.86. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

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 yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the 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 in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now 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 a total of 19,000 shares of company stock valued at $3,496,590 in the last three months. Company insiders own 0.08% of the company’s stock.

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.