Caprock Group LLC Has $6.18 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Caprock Group LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,032 shares of the wireless technology company’s stock after purchasing an additional 5,555 shares during the period. Caprock Group LLC’s holdings in QUALCOMM were worth $6,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. W Advisors LLC grew its stake in shares of QUALCOMM by 7.2% in the 2nd quarter. W Advisors LLC now owns 1,779 shares of the wireless technology company’s stock valued at $354,000 after buying an additional 120 shares in the last quarter. Kerusso Capital Management LLC acquired a new stake in QUALCOMM in the second quarter valued at approximately $3,936,000. Fiducient Advisors LLC bought a new stake in QUALCOMM in the second quarter worth approximately $227,000. Acadian Asset Management LLC increased its stake in shares of QUALCOMM by 285.8% during the 2nd quarter. Acadian Asset Management LLC now owns 993,023 shares of the wireless technology company’s stock worth $197,759,000 after purchasing an additional 735,649 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in shares of QUALCOMM by 2.8% during the 2nd quarter. Asset Dedication LLC now owns 17,026 shares of the wireless technology company’s stock valued at $3,391,000 after purchasing an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $158.19 on Friday. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. 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’s 50-day simple moving average is $179.95 and its 200 day simple moving average is $181.55. The firm has a market cap of $176.54 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s 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 completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at $36,912,913.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 of the company’s stock, valued at approximately $12,407,124.23. 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 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent analyst reports. Susquehanna upped their price target on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

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.