Sienna Gestion Acquires Shares of 42,126 QUALCOMM Incorporated (NASDAQ:QCOM)

Sienna Gestion bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,126 shares of the wireless technology company’s stock, valued at approximately $8,387,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM during the second quarter worth approximately $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Richardson Capital Management LLC purchased a new stake in QUALCOMM in the 1st quarter valued at $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in QUALCOMM during the 4th quarter worth $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday. Rosenblatt Securities boosted their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Citigroup increased their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Tigress Financial increased their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Stock Performance

QCOM opened at $168.30 on Thursday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market cap of $187.82 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.81 and a beta of 1.28. The stock’s 50 day simple moving average is $173.71 and its 200 day simple moving average is $182.05. 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 (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

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.