NorthCoast Asset Management LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

NorthCoast Asset Management LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 135.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,636 shares of the wireless technology company’s stock after purchasing an additional 104,449 shares during the period. QUALCOMM accounts for approximately 1.0% of NorthCoast Asset Management LLC’s holdings, making the stock its 27th largest position. NorthCoast Asset Management LLC’s holdings in QUALCOMM were worth $24,147,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Analog Century Management LP purchased a new stake in QUALCOMM in the 4th quarter worth approximately $8,226,000. Sittner & Nelson LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $37,000. Laidlaw Wealth Management LLC lifted its stake in shares of QUALCOMM by 181.2% during the 4th quarter. Laidlaw Wealth Management LLC now owns 5,438 shares of the wireless technology company’s stock valued at $828,000 after buying an additional 3,504 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in QUALCOMM by 4.7% in the 4th quarter. Guggenheim Capital LLC now owns 592,126 shares of the wireless technology company’s stock worth $90,205,000 after buying an additional 26,672 shares during the period. Finally, Capstone Financial Advisors Inc. increased its stake in QUALCOMM by 3.7% in the 4th quarter. Capstone Financial Advisors Inc. now owns 17,157 shares of the wireless technology company’s stock worth $2,614,000 after buying an additional 609 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

QCOM traded up $0.23 during trading hours on Thursday, reaching $142.40. 139,589 shares of the company’s stock traded hands, compared to its average volume of 6,634,499. The company’s 50-day moving average price is $136.28. The firm has a market capitalization of $160.63 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 0.97 and a beta of 1.32. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.02 and a quick ratio of 1.72. QUALCOMM Incorporated has a 52-week low of $87.51 and a 52-week high of $167.94.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.49. The firm had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.62 billion. QUALCOMM had a net margin of 27.28% and a return on equity of 103.71%. The business’s revenue was up 52.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 6.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be paid a $0.68 dividend. The ex-dividend date is Wednesday, September 1st. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. QUALCOMM’s dividend payout ratio is currently 81.44%.

In related news, EVP Brian Modoff sold 1,510 shares of QUALCOMM stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $129.32, for a total value of $195,273.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Erin L. Polek sold 1,835 shares of the company’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.00, for a total transaction of $242,220.00. Over the last ninety days, insiders have sold 4,855 shares of company stock worth $643,533. Corporate insiders own 0.14% of the company’s stock.

QCOM has been the subject of several research analyst reports. Susquehanna Bancshares cut QUALCOMM to a “neutral” rating and cut their target price for the stock from $175.00 to $155.00 in a research report on Monday, April 19th. Mizuho lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, April 29th. KGI Securities assumed coverage on shares of QUALCOMM in a research report on Tuesday, June 29th. They set an “outperform” rating for the company. Piper Sandler lifted their price target on shares of QUALCOMM from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Finally, Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $150.00 price objective for the company. in a report on Wednesday, June 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and an average price target of $165.56.

QUALCOMM Company Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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