Fairscale Capital LLC Purchases Shares of 1,551 QUALCOMM Incorporated (NASDAQ:QCOM)

Fairscale Capital LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,551 shares of the wireless technology company’s stock, valued at approximately $325,000.

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

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were 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 approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, 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. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QCOM. Bank of America boosted their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DZ Bank upgraded 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, Wells Fargo & Company upped their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $168.92 on Friday. 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 company has a market capitalization of $188.51 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm’s 50-day moving average is $172.52 and its 200 day moving average is $182.16.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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. Research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The firm 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 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 2.01%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

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.