Columbus Hill Capital Management L.P. Invests $1.98 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Columbus Hill Capital Management L.P. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,939 shares of the wireless technology company’s stock, valued at approximately $1,980,000. QUALCOMM makes up approximately 0.4% of Columbus Hill Capital Management L.P.’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. City Holding Co. increased its position in shares of QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after buying an additional 534,176 shares in the last quarter. BNP Paribas acquired a new position in QUALCOMM during the first quarter worth $3,104,000. SWP Financial LLC bought a new stake in QUALCOMM during the fourth quarter worth $593,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in QUALCOMM by 94.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 988,683 shares of the wireless technology company’s stock valued at $196,807,000 after acquiring an additional 479,722 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One 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 given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Stock Performance

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 $182.01. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market cap of $188.51 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

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, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for 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 year.

QUALCOMM Announces Dividend

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

Insiders Place Their Bets

In other 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 completion of the sale, 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 SEC, which is available at this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by company insiders.

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.