Dana Investment Advisors Inc. Buys 69,492 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Dana Investment Advisors Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 208.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,846 shares of the wireless technology company's stock after purchasing an additional 69,492 shares during the period. QUALCOMM comprises about 0.7% of Dana Investment Advisors Inc.'s investment portfolio, making the stock its 28th biggest position. Dana Investment Advisors Inc.'s holdings in QUALCOMM were worth $20,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. New Century Financial Group LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at about $360,000. 3Chopt Investment Partners LLC acquired a new position in QUALCOMM in the second quarter valued at about $2,134,000. Ted Buchan & Co acquired a new position in QUALCOMM in the second quarter valued at about $263,000. Advisory Alpha LLC boosted its position in QUALCOMM by 33.3% in the second quarter. Advisory Alpha LLC now owns 2,499 shares of the wireless technology company's stock valued at $498,000 after buying an additional 624 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Down 2.5 %

NASDAQ:QCOM traded down $4.27 during mid-day trading on Tuesday, hitting $165.78. 8,273,892 shares of the company's stock were exchanged, compared to its average volume of 9,215,937. The company has a 50 day simple moving average of $168.61 and a 200-day simple moving average of $182.15. 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 Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market capitalization of $185.01 billion, a P/E ratio of 22.28, a PEG ratio of 1.83 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS 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 business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.05%. QUALCOMM's payout ratio is 45.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QCOM shares. DZ Bank upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. 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 research note on Thursday, August 1st. Citigroup boosted their target price 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. Westpark Capital reissued a "hold" rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Robert W. Baird upped their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $211.67.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 completion of the sale, the chief technology officer now owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction 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 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 disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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.