Federated Hermes Inc. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Federated Hermes Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 173.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 842,357 shares of the wireless technology company's stock after acquiring an additional 534,176 shares during the quarter. Federated Hermes Inc. owned 0.08% of QUALCOMM worth $167,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Richardson Capital Management LLC bought a new position in QUALCOMM in the 1st quarter valued at $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in QUALCOMM in the 4th quarter valued at $39,000. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on QCOM. Wolfe Research downgraded QUALCOMM from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 12th. Citigroup upped their target price on QUALCOMM from $170.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, July 15th. Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. Tigress Financial upped their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, June 21st. Finally, HSBC cut 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.63.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, 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 transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.7 %

QUALCOMM stock traded up $2.75 during midday trading on Friday, reaching $167.73. The company's stock had a trading volume of 4,039,318 shares, compared to its average volume of 9,208,135. The stock's 50-day simple moving average is $176.88 and its 200-day simple moving average is $181.63. 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 Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market capitalization of $186.85 billion, a P/E ratio of 22.52, a PEG ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's dividend payout ratio 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.