MCF Advisors LLC Purchases 166 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

MCF Advisors LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,491 shares of the wireless technology company’s stock after purchasing an additional 166 shares during the period. MCF Advisors LLC’s holdings in QUALCOMM were worth $1,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the 1st quarter worth approximately $1,171,516,000. Putnam Investments LLC raised its stake in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after acquiring an additional 263,482 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 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 transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value 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. Over the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QCOM shares. Tigress Financial increased their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. TD Cowen increased their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Susquehanna raised their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $163.70 on Friday. The company has a market cap of $182.36 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.93 and a beta of 1.28. The business’s 50 day moving average price is $180.77 and its 200-day moving average price is $181.31. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders 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 annualized dividend and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.