Campbell & CO Investment Adviser LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 373.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,614 shares of the wireless technology company’s stock after purchasing an additional 13,103 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in QUALCOMM were worth $2,646,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of QCOM. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% during the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock worth $17,568,141,000 after acquiring an additional 638,284 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in shares of QUALCOMM by 656,661.0% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after purchasing an additional 58,764,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in QUALCOMM by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,422,341 shares of the wireless technology company’s stock worth $1,600,976,000 after purchasing an additional 641,654 shares during the period. Invesco Ltd. lifted its stake in QUALCOMM by 2.2% in the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock worth $1,512,458,000 after purchasing an additional 215,900 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in QUALCOMM by 5.3% during the first quarter. Ameriprise Financial Inc. now owns 9,389,620 shares of the wireless technology company’s stock valued at $1,441,847,000 after buying an additional 471,648 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Price Performance
QCOM opened at $170.89 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The stock has a market capitalization of $183.02 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The stock’s 50 day moving average price is $167.46 and its 200-day moving average price is $158.15. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95.
QUALCOMM Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio is presently 72.80%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on QCOM. Bank of America boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna set a $210.00 price target on QUALCOMM in a research note on Thursday. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Mizuho raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Weiss Ratings lowered shares of QUALCOMM from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.
Check Out Our Latest Stock Analysis on QCOM
Insider Activity at QUALCOMM
In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the sale, the chief executive officer directly owned 149,304 shares in the company, valued at $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $161.42, for a total value of $44,067.66. Following the sale, the chief accounting officer directly owned 404 shares in the company, valued at approximately $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 163,169 shares of company stock valued at $26,978,998 in the last three months. Corporate 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.
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