Federated Hermes Inc. Buys 534,176 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Federated Hermes Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 173.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 842,357 shares of the wireless technology company’s stock after acquiring an additional 534,176 shares during the quarter. Federated Hermes Inc. owned about 0.08% of QUALCOMM worth $167,781,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc boosted its stake in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares during the period. Buffington Mohr McNeal lifted its stake in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares during the last quarter. TRUE Private Wealth Advisors grew its holdings in QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after acquiring an additional 57 shares in the last quarter. Macroview Investment Management LLC increased its position in shares of QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $164.98 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business has a 50 day simple moving average of $176.88 and a 200-day simple moving average of $181.63. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a market capitalization of $183.79 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. KeyCorp boosted their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Robert W. Baird raised their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Company 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.