Qsemble Capital Management LP Acquires 4,698 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Qsemble Capital Management LP raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 34.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,159 shares of the wireless technology company’s stock after buying an additional 4,698 shares during the quarter. Qsemble Capital Management LP’s holdings in QUALCOMM were worth $3,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Norges Bank bought a new stake in QUALCOMM in the 4th quarter valued at $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter worth about $1,171,516,000. Price T Rowe Associates Inc. MD grew its holdings in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of QUALCOMM in the 1st quarter worth about $238,770,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QCOM shares. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. TD Cowen upped their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Susquehanna upped their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Robert W. Baird upped their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.63.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was 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 directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $166.56 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock has a market cap of $185.88 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The stock has a 50-day moving average of $177.65 and a 200-day moving average of $181.74. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

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

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid 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 yield of 2.04%. QUALCOMM’s payout ratio is 45.70%.

About QUALCOMM

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.