Brown Brothers Harriman & Co. Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Brown Brothers Harriman & Co. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,153 shares of the wireless technology company’s stock after acquiring an additional 2,190 shares during the period. Brown Brothers Harriman & Co.’s holdings in QUALCOMM were worth $5,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in QUALCOMM during the 1st quarter worth $27,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM during the second quarter valued at about $32,000. Aspect Partners LLC raised its position in shares of QUALCOMM by 71.8% in 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 during the last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in QUALCOMM in the 4th quarter worth approximately $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research note on Thursday, August 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Susquehanna upped their target price on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Trading Down 0.7 %

Shares of QCOM stock opened at $166.61 on Tuesday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a market cap of $185.94 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock has a 50 day simple moving average of $175.29 and a 200-day simple moving average of $182.11.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared 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 dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

QUALCOMM 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.