L & S Advisors Inc Invests $6.24 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

L & S Advisors Inc bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,316 shares of the wireless technology company's stock, valued at approximately $6,238,000.

A number of other institutional investors also recently made changes to their positions in the business. 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 purchasing an additional 1,909,025 shares in the last quarter. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. Putnam Investments LLC raised its position in shares of QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company's stock valued at $917,051,000 after acquiring an additional 263,482 shares in the last quarter. Van ECK Associates Corp raised its position 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 valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company's stock valued at $970,951,000 after acquiring an additional 173,673 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 60,343 shares of the company's stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 229,987 shares of the company's stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

QCOM stock traded up $2.09 during trading hours on Tuesday, hitting $168.70. 5,826,157 shares of the stock traded hands, compared to its average volume of 9,174,219. The stock has a 50-day simple moving average of $174.52 and a 200 day simple moving average of $182.15. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a market cap of $188.27 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.81 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 released its quarterly earnings results 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. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. QUALCOMM's dividend payout ratio (DPR) is 45.70%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QCOM. TD Cowen raised QUALCOMM to a "strong-buy" rating in a research report on Monday. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $230.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday. Bank of America upped their price target on QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, May 31st. Rosenblatt Securities upped their price target on QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Finally, HSBC lowered 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.67.

QUALCOMM Company 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.