Colrain Capital LLC Has $3.74 Million Stock Position in QUALCOMM Incorporated $QCOM

Colrain Capital LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,500 shares of the wireless technology company’s stock after purchasing an additional 1,250 shares during the quarter. QUALCOMM makes up approximately 2.9% of Colrain Capital LLC’s holdings, making the stock its 14th biggest holding. Colrain Capital LLC’s holdings in QUALCOMM were worth $3,743,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in QCOM. Gilbert & Cook Inc. increased its position in QUALCOMM by 2.9% in the 2nd quarter. Gilbert & Cook Inc. now owns 4,971 shares of the wireless technology company’s stock valued at $792,000 after acquiring an additional 139 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in QUALCOMM by 4.7% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,159 shares of the wireless technology company’s stock valued at $503,000 after acquiring an additional 143 shares in the last quarter. Triglav Investments D.O.O. increased its position in QUALCOMM by 5.3% in the 2nd quarter. Triglav Investments D.O.O. now owns 38,338 shares of the wireless technology company’s stock valued at $6,104,000 after acquiring an additional 1,942 shares in the last quarter. Greater Midwest Financial Group LLC acquired a new stake in QUALCOMM in the 2nd quarter valued at about $2,058,000. Finally, Atlas Private Wealth Advisors increased its position in QUALCOMM by 6.3% in the 2nd quarter. Atlas Private Wealth Advisors now owns 1,525 shares of the wireless technology company’s stock valued at $243,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. UBS Group set a $165.00 price objective on shares of QUALCOMM in a research report on Monday, October 27th. Mizuho lowered their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Citigroup raised their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Susquehanna raised their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.95.

QUALCOMM Stock Up 2.1%

Shares of NASDAQ QCOM opened at $180.90 on Friday. The firm has a market capitalization of $195.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The firm’s 50-day moving average is $165.85 and its 200-day moving average is $156.67.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 EPS. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.0%. QUALCOMM’s payout ratio is currently 34.33%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer owned 36,541 shares in the company, valued at approximately $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $154.82, for a total transaction of $122,462.62. Following the transaction, the chief accounting officer owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. This represents a 41.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 166,502 shares of company stock worth $27,472,615 in the last ninety days. Company insiders own 0.08% of the company’s stock.

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.