Massachusetts Financial Services Co. MA Has $641.22 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Financial Services Co. MA grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1,778.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,219,303 shares of the wireless technology company’s stock after purchasing an additional 3,047,947 shares during the period. Massachusetts Financial Services Co. MA’s holdings in QUALCOMM were worth $641,221,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pine Haven Investment Counsel Inc lifted its position in shares of QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares during the period. Buffington Mohr McNeal lifted its position in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after acquiring an additional 53 shares during the period. TRUE Private Wealth Advisors lifted its position in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after acquiring an additional 57 shares during the period. Macroview Investment Management LLC lifted its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after acquiring an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM opened at $166.61 on Tuesday. The firm has a market cap of $185.94 billion, a P/E ratio of 22.39, a PEG ratio of 1.81 and a beta of 1.28. The firm has a 50-day moving average of $175.29 and a 200 day moving average of $182.11. 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 Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, research analysts expect that QUALCOMM Incorporated will post 8 EPS 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 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 yield of 2.04%. QUALCOMM’s payout ratio is currently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $616,830.00. Following the transaction, the chief financial officer now 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. Insiders sold 19,000 shares of company stock worth $3,496,590 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Robert W. Baird upped their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.