Tcwp LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Tcwp LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,107 shares of the wireless technology company’s stock, valued at approximately $220,000.

Other hedge funds have also recently modified their holdings of the company. Summit Trail Advisors LLC boosted its stake in QUALCOMM by 33.8% during the 2nd quarter. Summit Trail Advisors LLC now owns 12,878 shares of the wireless technology company’s stock worth $2,565,000 after purchasing an additional 3,256 shares during the last quarter. Columbus Hill Capital Management L.P. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $1,980,000. Sei Investments Co. boosted its stake in QUALCOMM by 15.1% during the second quarter. Sei Investments Co. now owns 803,673 shares of the wireless technology company’s stock worth $160,082,000 after buying an additional 105,695 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 11.6% in the second quarter. Pacer Advisors Inc. now owns 177,040 shares of the wireless technology company’s stock valued at $35,263,000 after purchasing an additional 18,379 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in QUALCOMM by 94.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 988,683 shares of the wireless technology company’s stock valued at $196,807,000 after purchasing an additional 479,722 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 2.9 %

Shares of NASDAQ:QCOM opened at $168.92 on Friday. The firm has a 50 day simple moving average of $172.52 and a 200-day simple moving average of $182.01. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $188.51 billion, a PE ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued 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 company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal 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. This represents a $3.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCOM shares. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Friday, August 2nd. 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 report on Thursday, August 1st. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 value 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 approximately $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company’s stock.

About QUALCOMM

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.