Anchor Investment Management LLC Has $6.76 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Anchor Investment Management LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 33,953 shares of the wireless technology company’s stock after selling 2,421 shares during the period. Anchor Investment Management LLC’s holdings in QUALCOMM were worth $6,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of QUALCOMM by 593.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,081,864 shares of the wireless technology company’s stock worth $215,486,000 after purchasing an additional 925,851 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in QUALCOMM during the 2nd quarter worth about $1,539,000. Sanctuary Advisors LLC bought a new stake in QUALCOMM during the 2nd quarter worth about $33,168,000. Creekside Partners acquired a new stake in QUALCOMM in the 2nd quarter valued at about $320,000. Finally, NCP Inc. increased its position in QUALCOMM by 50.5% in the 2nd quarter. NCP Inc. now owns 301 shares of the wireless technology company’s stock valued at $60,000 after acquiring an additional 101 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Tigress Financial lifted their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Trading Up 1.5 %

NASDAQ QCOM opened at $168.32 on Thursday. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market cap of $187.51 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.86 and a beta of 1.28. The stock’s 50-day moving average is $168.35 and its 200-day moving average is $182.05.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.23 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were given a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction 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 completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,245 shares of company stock valued at $4,296,237. Company insiders own 0.08% of the company’s stock.

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.