Callan Family Office LLC Makes New $468,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Family Office LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,352 shares of the wireless technology company’s stock, valued at approximately $468,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new position in QUALCOMM during the second quarter worth about $609,000. Verdence Capital Advisors LLC raised its stake in shares of QUALCOMM by 4.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 23,865 shares of the wireless technology company’s stock valued at $4,753,000 after purchasing an additional 1,099 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of QUALCOMM by 11.5% in the 2nd quarter. Catalyst Financial Partners LLC now owns 10,349 shares of the wireless technology company’s stock valued at $2,061,000 after purchasing an additional 1,065 shares during the period. Patten Group Inc. raised its stake in shares of QUALCOMM by 4.2% in the 2nd quarter. Patten Group Inc. now owns 13,748 shares of the wireless technology company’s stock valued at $2,738,000 after purchasing an additional 560 shares during the period. Finally, Townsend Asset Management Corp NC ADV raised its stake in shares of QUALCOMM by 2.1% in the 2nd quarter. Townsend Asset Management Corp NC ADV now owns 65,146 shares of the wireless technology company’s stock valued at $12,976,000 after purchasing an additional 1,320 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 2.3 %

QCOM traded down $4.01 during trading on Monday, reaching $169.49. 7,434,330 shares of the stock traded hands, compared to its average volume of 9,295,872. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $189.15 billion, a PE ratio of 22.78, a P/E/G ratio of 1.89 and a beta of 1.27. The stock’s 50-day moving average is $187.16 and its 200 day moving average is $180.75. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

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, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts anticipate 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 given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. TD Cowen lifted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Wells Fargo & Company lifted their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 in the last 90 days. 0.08% of the stock is currently owned by corporate 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.