Chicago Capital LLC Buys 26,133 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Chicago Capital LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 582.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,617 shares of the wireless technology company’s stock after buying an additional 26,133 shares during the quarter. Chicago Capital LLC’s holdings in QUALCOMM were worth $6,098,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the period. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the second quarter valued at $32,000. Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in shares of QUALCOMM during the first quarter valued at $37,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. TD Cowen lifted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Price Performance

Shares of QCOM stock traded down $5.51 during trading hours on Friday, hitting $158.19. 10,703,047 shares of the company’s stock were exchanged, compared to its average volume of 9,279,430. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market cap of $176.22 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28. The firm has a 50 day moving average of $179.95 and a two-hundred day moving average of $181.35.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.