Sage Capital Advisors llc boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,215 shares of the wireless technology company’s stock after purchasing an additional 334 shares during the period. QUALCOMM comprises 2.2% of Sage Capital Advisors llc’s holdings, making the stock its 14th biggest holding. Sage Capital Advisors llc’s holdings in QUALCOMM were worth $6,216,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BSW Wealth Partners increased its stake in QUALCOMM by 4.6% in the 1st quarter. BSW Wealth Partners now owns 7,609 shares of the wireless technology company’s stock worth $971,000 after buying an additional 335 shares during the period. Naviter Wealth LLC increased its position in shares of QUALCOMM by 41.2% during the first quarter. Naviter Wealth LLC now owns 5,765 shares of the wireless technology company’s stock worth $735,000 after acquiring an additional 1,682 shares during the period. Richard W. Paul & Associates LLC increased its position in shares of QUALCOMM by 15.9% during the first quarter. Richard W. Paul & Associates LLC now owns 3,136 shares of the wireless technology company’s stock worth $400,000 after acquiring an additional 430 shares during the period. First Affirmative Financial Network raised its stake in shares of QUALCOMM by 16.5% during the second quarter. First Affirmative Financial Network now owns 2,114 shares of the wireless technology company’s stock valued at $252,000 after acquiring an additional 299 shares in the last quarter. Finally, Alight Capital Management LP purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $880,000. 71.10% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
QCOM has been the subject of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and set a $140.00 target price on shares of QUALCOMM in a research report on Wednesday, August 23rd. Morgan Stanley lifted their price objective on QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $159.00 to $148.00 in a report on Thursday, August 3rd. Rosenblatt Securities restated a “buy” rating and issued a $145.00 price target on shares of QUALCOMM in a report on Thursday, September 14th. Finally, Wolfe Research initiated coverage on shares of QUALCOMM in a research note on Wednesday, July 19th. They set an “outperform” rating and a $145.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $141.96.
QUALCOMM Stock Down 2.1 %
Shares of QCOM stock traded down $2.38 during trading hours on Tuesday, reaching $110.37. 1,582,215 shares of the company’s stock were exchanged, compared to its average volume of 8,109,990. The stock has a market cap of $121.41 billion, a PE ratio of 14.76, a PEG ratio of 1.10 and a beta of 1.23. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $117.12 and its two-hundred day moving average price is $116.90. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $139.94.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.51 billion. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. Research analysts predict that QUALCOMM Incorporated will post 6.41 EPS for the current year.
QUALCOMM Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a yield of 2.90%. QUALCOMM’s dividend payout ratio (DPR) is 41.88%.
Insider Buying and Selling at QUALCOMM
In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total value of $111,270.00. Following the completion of the transaction, the insider now directly owns 5,745 shares in the company, valued at $639,246.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO James H. Thompson sold 27,962 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total value of $3,166,137.26. Following the sale, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at approximately $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 the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at approximately $639,246.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,962 shares of company stock worth $3,391,567. 0.07% of the stock is currently owned by insiders.
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.
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