Profund Advisors LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Profund Advisors LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,012 shares of the wireless technology company’s stock after acquiring an additional 10,807 shares during the period. QUALCOMM accounts for about 1.3% of Profund Advisors LLC’s holdings, making the stock its 11th biggest position. Profund Advisors LLC’s holdings in QUALCOMM were worth $36,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the second quarter valued at $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Richardson Capital Management LLC bought a new position in QUALCOMM in the 1st quarter worth about $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $39,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on QCOM shares. Susquehanna upped their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. KeyCorp increased their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities upped their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Stock Down 2.9 %

Shares of NASDAQ:QCOM opened at $168.92 on Friday. The stock’s 50-day moving average is $172.52 and its 200 day moving average is $182.16. The company has a market cap of $188.51 billion, a PE ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

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

QUALCOMM Announces Dividend

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

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 completion of 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. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 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.