Caxton Associates LP Acquires New Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Caxton Associates LP purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,002 shares of the wireless technology company’s stock, valued at approximately $398,000.

A number of other large investors have also modified their holdings of the business. Morgan Stanley increased its stake in QUALCOMM by 36.8% during the first quarter. Morgan Stanley now owns 10,330,243 shares of the wireless technology company’s stock worth $1,369,687,000 after purchasing an additional 2,781,284 shares during the period. Maverick Capital Ltd. purchased a new stake in QUALCOMM during the first quarter worth about $2,384,000. Doheny Asset Management CA increased its stake in QUALCOMM by 29.9% during the first quarter. Doheny Asset Management CA now owns 29,280 shares of the wireless technology company’s stock worth $3,882,000 after purchasing an additional 6,740 shares during the period. Tudor Investment Corp Et Al increased its stake in QUALCOMM by 161.2% during the first quarter. Tudor Investment Corp Et Al now owns 80,368 shares of the wireless technology company’s stock worth $10,656,000 after purchasing an additional 49,598 shares during the period. Finally, First Heartland Consultants Inc. increased its stake in QUALCOMM by 40.8% during the first quarter. First Heartland Consultants Inc. now owns 2,427 shares of the wireless technology company’s stock worth $322,000 after purchasing an additional 703 shares during the period. Institutional investors own 72.42% of the company’s stock.

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. Canaccord Genuity upped their target price on shares of QUALCOMM from $188.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler upped their target price on shares of QUALCOMM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, April 29th. The Goldman Sachs Group upgraded shares of QUALCOMM from a “sell” rating to a “neutral” rating and upped their target price for the stock from $136.00 to $148.00 in a research note on Monday. Finally, KGI Securities assumed coverage on shares of QUALCOMM in a research note on Tuesday, June 29th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $165.56.

Shares of NASDAQ QCOM opened at $142.17 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.72 and a debt-to-equity ratio of 2.05. The business’s fifty day moving average is $136.28. QUALCOMM Incorporated has a 1-year low of $87.51 and a 1-year high of $167.94. The firm has a market capitalization of $160.37 billion, a P/E ratio of 20.40, a PEG ratio of 0.97 and a beta of 1.32.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.49. QUALCOMM had a return on equity of 103.71% and a net margin of 27.28%. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $7.62 billion. During the same period last year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, research analysts expect that QUALCOMM Incorporated will post 6.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Thursday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, September 1st. QUALCOMM’s dividend payout ratio is presently 81.44%.

In other QUALCOMM news, CAO Erin L. Polek sold 1,835 shares of the stock in a transaction on Friday, May 21st. The stock was sold at an average price of $132.00, for a total value of $242,220.00. Also, EVP Brian Modoff sold 1,510 shares of the stock in a transaction on Friday, May 14th. The stock was sold at an average price of $129.32, for a total value of $195,273.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,855 shares of company stock valued at $643,533. Corporate insiders own 0.14% of the company’s stock.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

Read More: Neutral Rating

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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