Semmax Financial Advisors Inc. Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Semmax Financial Advisors Inc. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,716 shares of the wireless technology company’s stock, valued at approximately $1,338,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Gilbert & Cook Inc. raised its stake in shares of QUALCOMM by 7.3% in the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 356 shares during the period. Gryphon Financial Partners LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $334,000. Congress Wealth Management LLC DE lifted its holdings in QUALCOMM by 64.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 10,674 shares of the wireless technology company’s stock valued at $1,544,000 after purchasing an additional 4,197 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new position in QUALCOMM during the fourth quarter worth about $495,000. Finally, Parallel Advisors LLC raised its position in shares of QUALCOMM by 11.9% in the fourth quarter. Parallel Advisors LLC now owns 13,046 shares of the wireless technology company’s stock valued at $1,887,000 after purchasing an additional 1,383 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities upped 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $165.96 on Tuesday. 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 50-day moving average price of $171.68 and a 200-day moving average price of $182.19. The company has a market cap of $185.21 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth 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.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations 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 year.

QUALCOMM Dividend Announcement

The company 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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business’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 value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 completion of the sale, the chief financial officer now directly 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 19,000 shares of company stock worth $3,496,590 over the last ninety days. 0.08% of the stock is owned by corporate 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.