3,646 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Clarendon Private LLC

Clarendon Private LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,646 shares of the wireless technology company’s stock, valued at approximately $560,000.

A number of other large investors also recently added to or reduced their stakes in the business. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 70 shares in the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $30,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QCOM stock opened at $161.05 on Tuesday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.64. The stock’s 50-day moving average is $154.74 and its 200 day moving average is $155.00. The company has a market cap of $176.83 billion, a P/E ratio of 16.40, a PEG ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s payout ratio is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on QCOM shares. Benchmark decreased their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday. UBS Group increased their price target on QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Citigroup restated a “hold” rating on shares of QUALCOMM in a report on Thursday, July 17th. Finally, Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $183.95.

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.