Luts & Greenleigh Group Inc. Buys New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Luts & Greenleigh Group Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,752 shares of the wireless technology company’s stock, valued at approximately $548,000.

A number of other institutional investors also recently made changes to their positions in QCOM. Gilbert & Cook Inc. lifted its holdings in shares of QUALCOMM by 7.3% during the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 356 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $334,000. Dynamic Technology Lab Private Ltd boosted its holdings in QUALCOMM by 90.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 9,639 shares of the wireless technology company’s stock worth $1,394,000 after purchasing an additional 4,570 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in QUALCOMM by 27.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock worth $190,000 after buying an additional 280 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC raised its holdings in QUALCOMM by 3.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 14,631 shares of the wireless technology company’s stock valued at $2,116,000 after buying an additional 516 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated 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 sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. 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 Stock Down 0.7 %

QCOM opened at $166.61 on Tuesday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The firm has a market cap of $185.94 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.81 and a beta of 1.28. The firm’s 50-day simple moving average is $175.29 and its 200-day simple moving average is $182.11. 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 issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QCOM. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Mizuho upped their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company 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 research note on Monday, August 12th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $210.63.

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.