Excalibur Management Corp Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Excalibur Management Corp boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,495 shares of the wireless technology company’s stock after purchasing an additional 221 shares during the period. Excalibur Management Corp’s holdings in QUALCOMM were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in QCOM. City Holding Co. raised its stake in shares of QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares in the last quarter. Bard Financial Services Inc. raised its stake in shares of QUALCOMM by 0.4% during the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock valued at $5,032,000 after acquiring an additional 125 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of QUALCOMM by 173.3% during the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after acquiring an additional 534,176 shares in the last quarter. BNP Paribas bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $3,104,000. Finally, SWP Financial LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $593,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $166.61 on Tuesday. 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’s fifty day moving average price is $175.29 and its 200 day moving average price is $182.11. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a market cap of $185.94 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders 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 yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction 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 approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research analyst reports. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Bank of America upped their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

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.