Semmax Financial Advisors Inc. Buys Shares of 6,716 QUALCOMM Incorporated (NASDAQ:QCOM)

Semmax Financial Advisors Inc. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 6,716 shares of the wireless technology company’s stock, valued at approximately $1,338,000.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of QUALCOMM by 8.1% in the fourth 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 period. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the 1st quarter worth $1,171,516,000. Putnam Investments LLC grew 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 during the period. Van ECK Associates Corp raised its holdings in QUALCOMM by 34.8% in 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 purchasing an additional 1,519,781 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after purchasing an additional 173,673 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now 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 three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.8 %

NASDAQ:QCOM opened at $165.96 on Tuesday. The firm has a 50 day moving average of $171.68 and a 200 day moving average of $182.19. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market capitalization of $185.21 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed 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 dividend yield of 2.05%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on QCOM shares. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. KeyCorp raised their price target on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One 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 company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $211.67.

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.