Los Angeles Capital Management LLC Buys 720,668 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Los Angeles Capital Management LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 155.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,183,487 shares of the wireless technology company’s stock after acquiring an additional 720,668 shares during the quarter. QUALCOMM comprises about 0.8% of Los Angeles Capital Management LLC’s holdings, making the stock its 19th largest position. Los Angeles Capital Management LLC’s holdings in QUALCOMM were worth $235,727,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter worth $27,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC grew its position in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the period. McClarren Financial Advisors Inc. raised its stake in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares during the last quarter. Finally, First Pacific Financial acquired a new position in QUALCOMM in the second quarter valued at approximately $40,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $5.51 during trading on Friday, hitting $158.19. 10,703,047 shares of the stock were exchanged, compared to its average volume of 9,279,430. The stock has a market capitalization of $176.22 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a fifty day moving average price of $179.95 and a 200-day moving average price of $181.35. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho raised their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Susquehanna lifted their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.63.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,496,590 in the last ninety days. Insiders own 0.08% of the company’s stock.

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.