Leisure Capital Management Buys 158 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Leisure Capital Management grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,849 shares of the wireless technology company’s stock after buying an additional 158 shares during the quarter. QUALCOMM makes up 1.1% of Leisure Capital Management’s holdings, making the stock its 21st biggest holding. Leisure Capital Management’s holdings in QUALCOMM were worth $2,742,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Banque Transatlantique SA acquired a new position in QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after buying an additional 70 shares during the period. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter worth about $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter valued at $30,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on QCOM shares. Mizuho cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $181.10.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company’s stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,352,355 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.5%

NASDAQ:QCOM opened at $147.51 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market cap of $159.16 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The firm has a 50-day moving average price of $155.15 and a two-hundred day moving average price of $154.70.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. QUALCOMM’s dividend payout ratio (DPR) is presently 34.33%.

QUALCOMM 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.