Parcion Private Wealth LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Parcion Private Wealth LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,726 shares of the wireless technology company’s stock after purchasing an additional 304 shares during the quarter. Parcion Private Wealth LLC’s holdings in QUALCOMM were worth $543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter worth $2,507,978,000. Matrix Capital Management Company LP purchased a new position in QUALCOMM in the first quarter valued at $1,171,516,000. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp increased its holdings in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in QUALCOMM in the first quarter valued at $238,770,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $5.51 during trading on Friday, hitting $158.19. 10,703,047 shares of the company were exchanged, compared to its average volume of 9,279,430. The firm has a 50 day moving average price of $179.95 and a 200 day moving average price of $181.35. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $176.22 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QCOM. Rosenblatt Securities increased their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. TD Cowen increased their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.