Hobbs Group Advisors LLC Invests $93,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Hobbs Group Advisors LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 467 shares of the wireless technology company’s stock, valued at approximately $93,000.

Several other hedge funds also recently modified their holdings of QCOM. Sunpointe LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter worth about $218,000. Pallas Capital Advisors LLC increased its position in shares of QUALCOMM by 0.8% during the 2nd quarter. Pallas Capital Advisors LLC now owns 33,834 shares of the wireless technology company’s stock worth $6,478,000 after purchasing an additional 278 shares in the last quarter. MBE Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter worth about $277,000. Harel Insurance Investments & Financial Services Ltd. increased its position in QUALCOMM by 36.5% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,335 shares of the wireless technology company’s stock valued at $456,000 after acquiring an additional 624 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in QUALCOMM in the 2nd quarter valued at about $2,325,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QCOM shares. Rosenblatt Securities raised their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. Tigress Financial raised their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Price Performance

Shares of QCOM traded down $2.15 during mid-day trading on Tuesday, reaching $172.11. The company had a trading volume of 6,176,655 shares, compared to its average volume of 9,358,681. The company’s 50 day simple moving average is $191.58 and its 200 day simple moving average is $179.81. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market capitalization of $192.07 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.84 and a beta of 1.27.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now 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 firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s 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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM 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.