South Street Advisors LLC Has $3.96 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

South Street Advisors LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,856 shares of the wireless technology company’s stock after selling 297 shares during the quarter. South Street Advisors LLC’s holdings in QUALCOMM were worth $3,955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at $37,000. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 0.6 %

QUALCOMM stock opened at $161.68 on Wednesday. The stock has a market cap of $180.11 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50-day moving average price is $178.40 and its two-hundred day moving average price is $181.85.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Mizuho upped their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Susquehanna upped their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, KeyCorp increased their target price on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

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.