Daiwa Securities Group Inc. Buys 50,754 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Daiwa Securities Group Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,653 shares of the wireless technology company’s stock after acquiring an additional 50,754 shares during the period. Daiwa Securities Group Inc.’s holdings in QUALCOMM were worth $54,904,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in QUALCOMM in the fourth quarter valued at about $2,507,978,000. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter valued at about $1,171,516,000. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% in the 4th 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 buying an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $238,770,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho boosted 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. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays upped their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Stock Up 1.6 %

Shares of QUALCOMM stock opened at $160.77 on Tuesday. The stock’s 50-day moving average is $179.17 and its 200 day moving average is $181.80. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The firm has a market cap of $179.10 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 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.