Silver Coast Investments LLC Acquires 383 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Silver Coast Investments LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,261 shares of the wireless technology company’s stock after purchasing an additional 383 shares during the quarter. Silver Coast Investments LLC’s holdings in QUALCOMM were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC grew its stake in QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after buying an additional 3,247,068 shares during the last quarter. Northern Trust Corp grew its stake in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 17.0% in the 4th 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 valued at $1,502,509,000 after buying an additional 1,424,106 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in QUALCOMM in the 4th quarter worth $204,085,000. Finally, Capital Research Global Investors grew its position in QUALCOMM by 525.5% in the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company’s stock worth $217,141,000 after purchasing an additional 1,187,531 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Wells Fargo & Company decreased 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. Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Sanford C. Bernstein set a $185.00 target price on shares of QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of “Hold” and a consensus price target of $181.10.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total value 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. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company’s stock, valued at $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 ninety days, insiders have sold 420,766 shares of company stock worth $7,858,738. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $148.19 on Monday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $159.90 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The stock’s 50-day moving average price is $155.11 and its two-hundred day moving average price is $154.81. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (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 analysts’ expectations 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 quarter in the previous year, the company earned $2.33 earnings per share. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. 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.