Denver PWM LLC Invests $57,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Denver PWM LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 285 shares of the wireless technology company’s stock, valued at approximately $57,000.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Gilbert & Cook Inc. grew its position in QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 356 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $334,000. Ethos Financial Group LLC increased its stake in shares of QUALCOMM by 24.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,113 shares of the wireless technology company’s stock worth $451,000 after acquiring an additional 618 shares during the period. First Western Trust Bank raised its holdings in QUALCOMM by 16.8% during the fourth quarter. First Western Trust Bank now owns 4,718 shares of the wireless technology company’s stock worth $682,000 after purchasing an additional 678 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at about $4,243,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.0 %

QCOM opened at $163.70 on Friday. The business’s fifty day simple moving average is $180.77 and its 200 day simple moving average is $181.31. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm has a market cap of $182.36 billion, a P/E ratio of 22.00, a PEG ratio of 1.93 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 (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QCOM. Susquehanna increased their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Barclays raised their price objective 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, Mizuho upped their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price 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 on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 sale, 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 legal filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,496,590 over the last quarter. 0.08% of the stock is currently 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.