Longfellow Investment Management Co. LLC Has $1.25 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Longfellow Investment Management Co. LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 62.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,130 shares of the wireless technology company’s stock after buying an additional 3,121 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in QUALCOMM were worth $1,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock worth $17,568,141,000 after purchasing an additional 638,284 shares in the last quarter. Northern Trust Corp grew its holdings in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. Invesco Ltd. grew its holdings in shares of QUALCOMM by 2.2% during the 1st quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock worth $1,512,458,000 after purchasing an additional 215,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of QUALCOMM by 11.2% during the 1st quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock worth $1,331,170,000 after purchasing an additional 875,412 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock opened at $147.56 on Monday. The stock has a market capitalization of $159.22 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.15 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The stock’s 50 day moving average price is $155.07 and its two-hundred day moving average price is $154.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s dividend payout ratio is presently 34.33%.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider directly owned 21,193 shares of the company’s stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was 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. In the last three months, insiders have sold 424,099 shares of company stock worth $8,352,355. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Evercore ISI reduced their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Piper Sandler reduced their price target on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $181.10.

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.