Vantage Financial Partners LLC Invests $202,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Vantage Financial Partners LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,313 shares of the wireless technology company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Geode Capital Management LLC boosted its holdings in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of QUALCOMM by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after purchasing an additional 709,644 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in QUALCOMM by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company’s stock valued at $692,747,000 after purchasing an additional 138,257 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on QCOM shares. TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Bank of America cut their price target on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group lifted their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $183.95.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $161.05 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $154.74 and its two-hundred day moving average price is $155.00. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.64. The stock has a market capitalization of $176.83 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by insiders.

About QUALCOMM

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.