Beacon Capital Management LLC Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beacon Capital Management LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 13.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,135 shares of the wireless technology company’s stock after purchasing an additional 132 shares during the period. Beacon Capital Management LLC’s holdings in QUALCOMM were worth $135,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BSW Wealth Partners boosted its holdings in QUALCOMM by 4.6% in the first quarter. BSW Wealth Partners now owns 7,609 shares of the wireless technology company’s stock valued at $971,000 after purchasing an additional 335 shares during the period. Naviter Wealth LLC grew 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 buying an additional 1,682 shares in the last quarter. Richard W. Paul & Associates LLC increased its stake 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 buying an additional 430 shares during the period. First Affirmative Financial Network lifted its stake in QUALCOMM by 16.5% in the second quarter. First Affirmative Financial Network now owns 2,114 shares of the wireless technology company’s stock worth $252,000 after acquiring an additional 299 shares during the last quarter. Finally, Alight Capital Management LP purchased a new stake in shares of QUALCOMM during the 4th quarter worth $880,000. 71.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley raised their price target on QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 12th. Susquehanna dropped 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. JPMorgan Chase & Co. cut their price target on QUALCOMM from $159.00 to $148.00 in a research report on Thursday, August 3rd. Finally, Wolfe Research assumed coverage on shares of QUALCOMM in a research note on Wednesday, July 19th. They issued 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 given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.96.

Check Out Our Latest Analysis on QUALCOMM

Insider Buying and Selling

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now owns 5,745 shares of the company’s stock, valued at $639,246.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO James H. Thompson sold 27,962 shares of the 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 completion of the sale, the chief technology officer now owns 241,369 shares of the company’s stock, valued at $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the completion of the sale, the insider now 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 ninety days, insiders have sold 29,962 shares of company stock valued at $3,391,567. 0.07% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 2.0 %

NASDAQ QCOM traded down $2.28 during trading hours on Tuesday, hitting $110.47. 1,158,601 shares of the company’s stock were exchanged, compared to its average volume of 8,106,482. The business’s 50 day moving average is $117.12 and its 200-day moving average is $116.90. 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 12-month low of $101.47 and a 12-month high of $139.94. The firm has a market capitalization of $121.52 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings data 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. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.51 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.90%. QUALCOMM’s payout ratio is 41.88%.

About QUALCOMM

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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