Vision Capital Management Inc. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Vision Capital Management Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 25,174 shares of the wireless technology company’s stock after acquiring an additional 115 shares during the period. Vision Capital Management Inc.’s holdings in QUALCOMM were worth $5,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the second quarter valued at about $32,000. Aspect Partners LLC raised its stake 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 acquiring an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.6 %

QCOM stock opened at $160.77 on Tuesday. 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 company’s 50 day simple moving average is $179.17 and its 200-day simple moving average is $181.80. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market capitalization of $179.10 billion, a PE ratio of 21.61, a P/E/G ratio of 1.74 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities analysts expect that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a report on Thursday, August 1st. Citigroup lifted their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Robert W. Baird increased their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Tigress Financial boosted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. One equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Insiders own 0.08% of the company’s stock.

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.