Strategic Investment Solutions Inc. IL Purchases New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Investment Solutions Inc. IL acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the second quarter, according to its most recent filing with the SEC. The fund acquired 549 shares of the wireless technology company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the first quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA grew its position in shares of QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp raised its position in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in QUALCOMM during the first quarter valued at $238,770,000. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on QCOM shares. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research note on Wednesday, July 17th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $168.32 on Thursday. 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. The business has a 50 day moving average price of $168.35 and a 200-day moving average price of $182.05. The firm has a market cap of $187.51 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for 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%. Equities research analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,245 shares of company stock worth $4,296,237. 0.08% of the stock is currently owned by company insiders.

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.