Cooper Financial Group Has $926,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cooper Financial Group grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 41.6% in the first quarter, HoldingsChannel.com reports. The fund owned 6,031 shares of the wireless technology company’s stock after acquiring an additional 1,772 shares during the quarter. Cooper Financial Group’s holdings in QUALCOMM were worth $926,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC lifted its position in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the 4th quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction 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 owned 21,193 shares of the company’s stock, valued at $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 424,099 shares of company stock worth $8,352,355 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QCOM. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Citigroup reissued a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Susquehanna cut their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. UBS Group boosted their target price on QUALCOMM from $145.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $181.10.

QUALCOMM Trading Up 1.1%

Shares of QCOM stock opened at $147.56 on Monday. The company’s fifty day simple moving average is $155.07 and its two-hundred day simple moving average is $154.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The stock has a market capitalization of $159.22 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.15 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 EPS. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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