Krilogy Financial LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Krilogy Financial LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 16.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,546 shares of the wireless technology company’s stock after acquiring an additional 1,331 shares during the period. Krilogy Financial LLC’s holdings in QUALCOMM were worth $1,219,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CoreCap Advisors LLC boosted its position in QUALCOMM by 180.0% in the first quarter. CoreCap Advisors LLC now owns 19,027 shares of the wireless technology company’s stock valued at $2,908,000 after buying an additional 12,231 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in QUALCOMM by 321.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 4,107 shares of the wireless technology company’s stock worth $628,000 after purchasing an additional 3,132 shares in the last quarter. Brookstone Capital Management boosted its position in QUALCOMM by 12.4% in the 1st quarter. Brookstone Capital Management now owns 19,388 shares of the wireless technology company’s stock worth $2,624,000 after purchasing an additional 2,145 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in QUALCOMM by 26.6% in the 1st quarter. NN Investment Partners Holdings N.V. now owns 88,822 shares of the wireless technology company’s stock worth $13,574,000 after purchasing an additional 18,645 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in QUALCOMM by 19.3% in the 1st quarter. IFM Investors Pty Ltd now owns 177,701 shares of the wireless technology company’s stock worth $27,156,000 after purchasing an additional 28,711 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

QUALCOMM Stock Performance

QCOM traded down $1.71 during trading on Thursday, hitting $122.91. 378,973 shares of the stock were exchanged, compared to its average volume of 6,799,863. The stock has a fifty day moving average price of $140.84 and a two-hundred day moving average price of $139.58. QUALCOMM Incorporated has a 1-year low of $118.22 and a 1-year high of $193.58. The firm has a market capitalization of $138.03 billion, a P/E ratio of 10.86, a PEG ratio of 0.72 and a beta of 1.23. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.85.

QUALCOMM (NASDAQ:QCOMGet Rating) last announced its earnings results 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. 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 the consensus estimate of $10.85 billion. During the same period last year, the business posted $1.66 EPS. The company’s revenue was up 36.7% on a year-over-year basis. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be paid a $0.75 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.44%. QUALCOMM’s dividend payout ratio (DPR) is currently 26.57%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 2,084 shares of QUALCOMM stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $126.51, for a total value of $263,646.84. Following the transaction, the insider now directly owns 917 shares in the company, valued at approximately $116,009.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on QCOM shares. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Piper Sandler reduced their target price on QUALCOMM from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Wells Fargo & Company reduced their target price on QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. KeyCorp upped their target price on QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. Finally, Mizuho increased their price objective on QUALCOMM from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.04.

QUALCOMM Profile

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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

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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