QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 27,813 shares of the wireless technology company’s stock after purchasing an additional 4,036 shares during the period. QUALCOMM accounts for approximately 0.9% of Pinkerton Retirement Specialists LLC’s portfolio, making the stock its 24th biggest holding. Pinkerton Retirement Specialists LLC’s holdings in QUALCOMM were worth $5,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $1,171,516,000. Putnam Investments LLC lifted its holdings in QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $164.98 on Friday. The business has a fifty day moving average of $176.88 and a 200-day moving average of $181.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap 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 Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts predict that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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 45.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on QCOM shares. Rosenblatt Securities boosted their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Mizuho boosted their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Robert W. Baird boosted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were 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 in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

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.