Graham Capital Management L.P. Invests $3.08 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Graham Capital Management L.P. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) in the 1st quarter, Holdings Channel.com reports. The firm purchased 20,181 shares of the wireless technology company’s stock, valued at approximately $3,084,000.

Other large investors have also modified their holdings of the company. Joseph P. Lucia & Associates LLC purchased a new stake in shares of QUALCOMM during the first quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $34,000. Crewe Advisors LLC raised its stake in shares of QUALCOMM by 444.4% during the first quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Core Wealth Advisors Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $46,000. Finally, HWG Holdings LP purchased a new position in QUALCOMM in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on QCOM shares. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Cowen set a $185.00 price objective on QUALCOMM in a research report on Tuesday, July 19th. DZ Bank cut QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research report on Friday, July 29th. Wells Fargo & Company cut their price objective on QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 28th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.04.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $132.05 on Friday. The firm has a market capitalization of $148.29 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.74 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.61 and a quick ratio of 1.15. The business’s 50-day simple moving average is $141.57 and its 200-day simple moving average is $141.81.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.44. The business had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The company’s revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. Equities analysts predict that QUALCOMM Incorporated will post 10.95 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, August 31st. QUALCOMM’s dividend payout ratio is currently 26.57%.

About QUALCOMM

(Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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