Keel Point LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Keel Point LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,027 shares of the wireless technology company’s stock after buying an additional 1,707 shares during the period. Keel Point LLC’s holdings in QUALCOMM were worth $4,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth $26,000. Ruedi Wealth Management Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group raised its stake in QUALCOMM by 53.9% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after acquiring an additional 90 shares during the period. TD Capital Management LLC lifted its holdings in QUALCOMM by 118.8% during the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Finally, Pacific Center for Financial Services bought a new stake in shares of QUALCOMM during the 1st quarter valued at $31,000. Institutional investors own 71.10% of the company’s stock.

Insider Activity

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now owns 5,745 shares in the company, valued at $639,246.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the transaction, the chief technology officer now owns 241,369 shares in the company, valued at approximately $27,330,211.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at $639,246.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,962 shares of company stock worth $3,391,567. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Trading Down 1.8 %

NASDAQ:QCOM traded down $2.06 during midday trading on Tuesday, hitting $110.69. The stock had a trading volume of 1,728,750 shares, compared to its average volume of 8,110,875. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $117.12 and a 200 day moving average of $116.90. The company has a market capitalization of $121.76 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.10 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.51 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 6.41 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.89%. QUALCOMM’s payout ratio is presently 41.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. Bank of America upped their price objective on QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $145.00 price target on shares of QUALCOMM in a report on Thursday, September 14th. Piper Sandler increased their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. UBS Group increased their target price on QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Finally, Morgan Stanley boosted their price target on shares of QUALCOMM from $125.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.96.

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, application processing, multimedia, and global positioning system products.