Westwood Wealth Management Acquires 500 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Westwood Wealth Management increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,708 shares of the wireless technology company’s stock after buying an additional 500 shares during the period. Westwood Wealth Management’s holdings in QUALCOMM were worth $539,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Interval Partners LP grew its holdings in QUALCOMM by 12,590.0% during the 2nd quarter. Interval Partners LP now owns 10,152 shares of the wireless technology company’s stock valued at $2,022,000 after buying an additional 10,072 shares in the last quarter. Xponance Inc. raised its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Xponance Inc. now owns 283,479 shares of the wireless technology company’s stock valued at $56,463,000 after acquiring an additional 6,889 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $2,983,000. Public Sector Pension Investment Board grew its holdings in shares of QUALCOMM by 75.5% during the second quarter. Public Sector Pension Investment Board now owns 43,177 shares of the wireless technology company’s stock worth $8,600,000 after purchasing an additional 18,577 shares in the last quarter. Finally, DRW Securities LLC increased its position in shares of QUALCOMM by 108.3% in the second quarter. DRW Securities LLC now owns 7,942 shares of the wireless technology company’s stock worth $1,581,000 after purchasing an additional 103,784 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $165.96 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market cap of $185.21 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.82 and a beta of 1.28. The business’s 50 day moving average price is $171.68 and its 200-day moving average price is $182.19. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 in the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Mizuho boosted their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

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.