Colrain Capital LLC Has $3.74 Million Stake in QUALCOMM Incorporated $QCOM

Colrain Capital LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% during the second quarter, HoldingsChannel reports. The fund owned 23,500 shares of the wireless technology company’s stock after buying an additional 1,250 shares during the period. QUALCOMM comprises about 2.9% of Colrain Capital LLC’s investment portfolio, making the stock its 14th largest position. Colrain Capital LLC’s holdings in QUALCOMM were worth $3,743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Kingstone Capital Partners Texas LLC raised its holdings in shares of QUALCOMM by 656,661.0% during the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock worth $9,360,274,000 after acquiring an additional 58,764,593 shares during the period. Nuveen LLC acquired a new stake in shares of QUALCOMM during the first quarter worth $529,713,000. Goldman Sachs Group Inc. raised its holdings in shares of QUALCOMM by 24.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock worth $1,114,403,000 after acquiring an additional 1,407,797 shares during the period. Deutsche Bank AG raised its holdings in shares of QUALCOMM by 11.2% during the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock worth $1,331,170,000 after acquiring an additional 875,412 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of QUALCOMM by 84.6% during the first quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company’s stock worth $230,444,000 after acquiring an additional 707,615 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Mizuho cut their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Citigroup boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group set a $165.00 price objective on shares of QUALCOMM in a research report on Monday, October 27th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.95.

Insider Activity

In other news, CEO Cristiano R. Amon sold 150,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the transaction, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at $24,718,770.24. This represents a 50.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 791 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the transaction, the chief accounting officer directly owned 1,106 shares in the company, valued at $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 166,502 shares of company stock valued at $27,472,615. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $180.90 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average price is $165.85 and its two-hundred day moving average price is $156.67. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The firm has a market capitalization of $195.19 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio is 34.33%.

QUALCOMM Company 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.