SSI Investment Management Inc. acquired a new stake in Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, Holdings Channel reports. The firm acquired 3,980 shares of the wireless technology company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Qualcomm by 12.6% in the second quarter. Victory Capital Management Inc. now owns 55,996 shares of the wireless technology company’s stock valued at $3,000,000 after buying an additional 6,259 shares in the last quarter. Aspiriant LLC raised its position in Qualcomm by 4.0% in the second quarter. Aspiriant LLC now owns 61,822 shares of the wireless technology company’s stock valued at $3,872,000 after buying an additional 2,367 shares in the last quarter. Icon Advisers Inc. Co. raised its position in Qualcomm by 150.0% in the second quarter. Icon Advisers Inc. Co. now owns 29,000 shares of the wireless technology company’s stock valued at $1,554,000 after buying an additional 17,400 shares in the last quarter. Nationwide Fund Advisors raised its position in Qualcomm by 5.0% in the second quarter. Nationwide Fund Advisors now owns 836,669 shares of the wireless technology company’s stock valued at $44,820,000 after buying an additional 39,994 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Qualcomm by 19.6% in the second quarter. Schroder Investment Management Group now owns 6,478,013 shares of the wireless technology company’s stock valued at $347,027,000 after buying an additional 1,061,663 shares in the last quarter. Institutional investors own 78.08% of the company’s stock.

Shares of Qualcomm Inc. (NASDAQ:QCOM) opened at 62.99 on Friday. The company’s 50-day moving average is $62.25 and its 200-day moving average is $55.27. The stock has a market cap of $92.83 billion, a P/E ratio of 18.45 and a beta of 1.22. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $63.70.

Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.19. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that Qualcomm Inc. will post $4.29 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, August 29th. Qualcomm’s dividend payout ratio is presently 62.17%.

A number of research analysts recently commented on QCOM shares. Vetr lowered shares of Qualcomm from a “strong-buy” rating to a “buy” rating and set a $69.01 price target on the stock. in a research note on Monday. Sanford C. Bernstein reiterated a “hold” rating on shares of Qualcomm in a research note on Thursday, September 8th. Mizuho upped their price target on shares of Qualcomm from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, September 6th. Standpoint Research upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, August 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Qualcomm in a research note on Wednesday, August 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.02.

In related news, EVP Matthew S. Grob sold 33,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $59.85, for a total value of $1,975,050.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $60.94, for a total transaction of $609,400.00. Following the completion of the transaction, the executive vice president now owns 59,497 shares in the company, valued at approximately $3,625,747.18. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Qualcomm Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

5 Day Chart for NASDAQ:QCOM

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