Walleye Capital LLC Acquires New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Walleye Capital LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,567 shares of the wireless technology company’s stock, valued at approximately $1,004,000.

Other hedge funds also recently added to or reduced their stakes in the company. Alberta Investment Management Corp grew its position in shares of QUALCOMM by 2.8% in the fourth quarter. Alberta Investment Management Corp now owns 80,523 shares of the wireless technology company’s stock valued at $14,725,000 after purchasing an additional 2,223 shares during the last quarter. Public Sector Pension Investment Board increased its position in QUALCOMM by 3.7% during the fourth quarter. Public Sector Pension Investment Board now owns 200,384 shares of the wireless technology company’s stock worth $36,644,000 after buying an additional 7,238 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of QUALCOMM by 45.8% in the fourth quarter. Hilltop Holdings Inc. now owns 3,619 shares of the wireless technology company’s stock worth $662,000 after acquiring an additional 1,136 shares during the last quarter. Clark Capital Management Group Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $639,000. Finally, OPTIMAS CAPITAL Ltd purchased a new stake in QUALCOMM during the 4th quarter worth about $1,662,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on QCOM shares. Mizuho raised their price target on shares of QUALCOMM from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Wells Fargo & Company cut their price target on QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Cowen set a $185.00 price objective on QUALCOMM in a report on Tuesday, July 19th. KeyCorp increased their target price on QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Ten investment 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 company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.04.

Insider Activity

In related news, insider James J. Cathey sold 2,084 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $126.51, for a total value of $263,646.84. Following the completion of the sale, the insider now directly owns 917 shares of the company’s stock, valued at $116,009.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.05% of the company’s stock.

QUALCOMM Stock Up 1.4 %

Shares of NASDAQ QCOM opened at $126.65 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61. QUALCOMM Incorporated has a 1 year low of $118.22 and a 1 year high of $193.58. The stock’s 50-day simple moving average is $141.34 and its 200-day simple moving average is $140.04. The firm has a market cap of $142.23 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.72 and a beta of 1.23.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, August 31st. QUALCOMM’s payout ratio is currently 26.57%.


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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.

Further Reading

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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