Full Sail Capital LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Full Sail Capital LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 24.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,731 shares of the wireless technology company’s stock after buying an additional 336 shares during the period. Full Sail Capital LLC’s holdings in QUALCOMM were worth $345,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at $32,000. Aspect Partners LLC raised its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter worth about $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth about $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $170.13 on Friday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 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 stock has a market cap of $189.52 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a 50 day moving average of $169.66 and a 200 day moving average of $182.05.

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

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were paid a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, 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. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Tigress Financial lifted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Wells Fargo & Company boosted their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company 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.