Concorde Asset Management LLC Buys Shares of 1,015 QUALCOMM Incorporated (NASDAQ:QCOM)

Concorde Asset Management LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,015 shares of the wireless technology company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at $27,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC lifted its stake 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 purchasing an additional 74 shares during the period. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at about $37,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in QUALCOMM in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 3.3 %

Shares of QUALCOMM stock opened at $173.92 on Friday. The firm has a market cap of $194.09 billion, a PE ratio of 23.38, a P/E/G ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock has a fifty day moving average price of $173.19 and a 200-day moving average price of $182.00.

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, beating the consensus estimate of $1.72 by $0.21. The company 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 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.95%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Piper Sandler restated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target 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.