3Chopt Investment Partners LLC Invests $2.13 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

3Chopt Investment Partners LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,712 shares of the wireless technology company’s stock, valued at approximately $2,134,000.

Several other institutional investors also recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. HWG Holdings LP purchased a new position in QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC boosted 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 purchasing an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new position in shares of QUALCOMM during the first quarter valued at about $37,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $170.05 on Tuesday. The business has a 50-day moving average price of $169.16 and a 200-day moving average price of $182.16. The firm has a market cap of $189.78 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

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, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 sale, 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 filing with the SEC, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on QCOM. Rosenblatt Securities raised their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.