17,500 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Resolute Capital Asset Partners LLC

Resolute Capital Asset Partners LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,500 shares of the wireless technology company's stock, valued at approximately $3,486,000. QUALCOMM accounts for approximately 2.0% of Resolute Capital Asset Partners LLC's holdings, making the stock its 19th biggest position.

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Matrix Capital Management Company LP bought a new position in QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Putnam Investments LLC boosted 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 last quarter. Van ECK Associates Corp boosted its stake in 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 worth $970,951,000 after acquiring an additional 173,673 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction on Friday, August 2nd. The shares were 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 directly owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $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 worth $3,496,590. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, May 31st. Citigroup lifted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, July 15th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. KeyCorp lifted their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. 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 issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $211.67.

QUALCOMM Stock Up 3.6 %

QCOM traded up $6.02 during trading on Thursday, reaching $174.32. 2,166,084 shares of the stock were exchanged, compared to its average volume of 9,117,304. The stock has a market cap of $194.54 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The stock's 50 day moving average price is $173.71 and its two-hundred day moving average price is $182.05. 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 - Get Free Report) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.95%. QUALCOMM's payout ratio is 45.70%.

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.