Callan Capital LLC Acquires 333 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Capital LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the wireless technology company’s stock after buying an additional 333 shares during the quarter. Callan Capital LLC’s holdings in QUALCOMM were worth $482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its position in shares of QUALCOMM by 40.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,621,175 shares of the wireless technology company’s stock worth $322,906,000 after acquiring an additional 468,500 shares during the period. Benjamin Edwards Inc. boosted its stake in QUALCOMM by 1.4% during the second quarter. Benjamin Edwards Inc. now owns 27,666 shares of the wireless technology company’s stock worth $5,511,000 after buying an additional 384 shares in the last quarter. Ieq Capital LLC boosted its stake in QUALCOMM by 19.0% during the second quarter. Ieq Capital LLC now owns 55,797 shares of the wireless technology company’s stock worth $11,114,000 after buying an additional 8,906 shares in the last quarter. ProVise Management Group LLC increased its holdings in QUALCOMM by 12.4% in the 2nd quarter. ProVise Management Group LLC now owns 2,148 shares of the wireless technology company’s stock valued at $428,000 after buying an additional 237 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of QUALCOMM by 89.1% in the 2nd quarter. Inspire Investing LLC now owns 4,956 shares of the wireless technology company’s stock valued at $987,000 after buying an additional 2,335 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 in the last 90 days. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday. Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $168.92 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market capitalization of $188.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28. The business has a 50-day moving average price of $172.52 and a two-hundred day moving average price of $182.01.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio is 45.70%.

QUALCOMM 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.