Sciencast Management LP Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Sciencast Management LP lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 58.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,728 shares of the wireless technology company’s stock after purchasing an additional 3,575 shares during the period. QUALCOMM makes up 0.9% of Sciencast Management LP’s investment portfolio, making the stock its 16th largest holding. Sciencast Management LP’s holdings in QUALCOMM were worth $1,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $26,000. Ruedi Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group increased its stake in shares of QUALCOMM by 53.9% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. TD Capital Management LLC lifted its stake in QUALCOMM by 118.8% in the 1st quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 120 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new position in QUALCOMM during the first quarter worth $31,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Activity

In other news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the completion of the sale, the insider now directly owns 6,745 shares in the company, valued at approximately $770,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO James H. Thompson sold 27,962 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the transaction, the chief technology officer now owns 241,369 shares in the company, valued at $27,330,211.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $114.16, for a total transaction of $114,160.00. Following the completion of the sale, the insider now owns 6,745 shares in the company, valued at $770,009.20. The disclosure for this sale can be found here. In the last three months, insiders sold 29,962 shares of company stock worth $3,391,567. 0.07% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QUALCOMM stock opened at $112.41 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94. The stock’s 50 day moving average price is $117.12 and its 200 day moving average price is $116.90. The firm has a market capitalization of $123.65 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.51 billion. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, August 30th. QUALCOMM’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on QCOM shares. Piper Sandler lifted their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Susquehanna decreased their target price on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a research report on Thursday, August 3rd. Bank of America raised their price target on QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. Morgan Stanley upped their price objective on shares of QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Finally, Mizuho reissued a “buy” rating and issued a $140.00 target price on shares of QUALCOMM in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.96.

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, application processing, multimedia, and global positioning system products.