QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by LGT Group Foundation

LGT Group Foundation grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2,400.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,830 shares of the wireless technology company's stock after purchasing an additional 43,037 shares during the period. LGT Group Foundation's holdings in QUALCOMM were worth $8,929,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc increased its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company's stock worth $410,000 after buying an additional 50 shares during the last quarter. Buffington Mohr McNeal increased its holdings in shares of QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company's stock worth $279,000 after buying an additional 53 shares during the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company's stock worth $525,000 after buying an additional 57 shares during the last quarter. Macroview Investment Management LLC increased its holdings in shares of QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company's stock worth $119,000 after buying an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock worth $40,000 after buying an additional 60 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.6 %

Shares of QCOM traded up $2.58 during mid-day trading on Monday, hitting $160.77. The company's stock had a trading volume of 7,490,991 shares, compared to its average volume of 9,266,604. The company's 50-day moving average is $179.17 and its 200-day moving average is $181.80. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The firm has a market capitalization 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 current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $9.23 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM's dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company'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 transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on Monday, July 1st. The shares were 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 owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,496,590 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on QCOM. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an "underweight" rating in a report on Thursday, August 1st. Mizuho upped their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a "buy" rating in a report on Friday, May 31st. Susquehanna upped their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the company a "positive" rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Finally, Bank of America upped their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.63.

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.