Mizuho Securities Co. Ltd. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Mizuho Securities Co. Ltd. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,380 shares of the wireless technology company’s stock, valued at approximately $275,000. QUALCOMM makes up about 0.6% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pine Haven Investment Counsel Inc lifted its position in shares of QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares in the last quarter. Buffington Mohr McNeal lifted its position in QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after buying an additional 53 shares in the last quarter. TRUE Private Wealth Advisors lifted its position in QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after buying an additional 57 shares in the last quarter. Macroview Investment Management LLC lifted its position in QUALCOMM by 10.5% during the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its position in QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $5.81 on Friday, hitting $175.30. The stock had a trading volume of 11,110,813 shares, compared to its average volume of 8,558,643. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market cap of $195.28 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.93 and a beta of 1.27. The company’s 50 day moving average price is $183.33 and its 200 day moving average price is $181.14.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Announces Dividend

The business 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Argus raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Finally, Mizuho boosted their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price 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.