Acadian Asset Management LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Acadian Asset Management LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 285.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 993,023 shares of the wireless technology company’s stock after acquiring an additional 735,649 shares during the period. Acadian Asset Management LLC owned approximately 0.09% of QUALCOMM worth $197,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. McClarren Financial Advisors Inc. boosted its position in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the last quarter. Finally, First Pacific Financial purchased a new position in shares of QUALCOMM during the second quarter worth about $40,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,496,590 over the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on QCOM shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Tigress Financial upped their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Trading Down 3.4 %

NASDAQ QCOM opened at $158.19 on Friday. The stock has a market cap of $176.54 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The stock has a 50 day simple moving average of $179.95 and a two-hundred day simple moving average of $181.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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 company 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, analysts forecast that QUALCOMM Incorporated will post 7.98 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 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.