Tower Wealth Partners Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 1,527 shares of the wireless technology company’s stock, valued at approximately $304,000.
Several other large investors also recently bought and sold shares of QCOM. City Holding Co. grew its holdings in QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after purchasing an additional 199 shares in the last quarter. Bard Financial Services Inc. boosted its position in QUALCOMM by 0.4% in the 4th quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock valued at $5,032,000 after buying an additional 125 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of QUALCOMM by 173.3% during the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after acquiring an additional 534,176 shares in the last quarter. BNP Paribas purchased a new stake in shares of QUALCOMM during the first quarter worth about $3,104,000. Finally, SWP Financial LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth about $593,000. Institutional investors and hedge funds own 74.35% of the company’s stock.
QUALCOMM Price Performance
Shares of NASDAQ QCOM opened at $166.61 on Tuesday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market cap of $185.94 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The business’s 50 day moving average price is $175.29 and its two-hundred day moving average price is $182.11.
QUALCOMM Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.
Analyst Ratings Changes
Several research firms have issued reports on QCOM. Bank of America lifted their price objective on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. Finally, Tigress Financial upped 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.
Check Out Our Latest Stock Report on QUALCOMM
Insider Activity
In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was 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 directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by insiders.
About QUALCOMM
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.
Recommended Stories
- Five stocks we like better than QUALCOMM
- What Makes a Stock a Good Dividend Stock?
- Top 3 Dividend Stocks to Beat Market Volatility and Boost Returns
- Using the MarketBeat Stock Split Calculator
- Airline Stocks Off the Beaten Path: 3 Key Picks for Investors
- Investing In Automotive Stocks
- Why Rate Cuts Could Trigger a ‘Sell the News’ Event for Stocks
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM – Free Report).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.