QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by ClariVest Asset Management LLC

ClariVest Asset Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18,857.7% in the second quarter, Holdings Channel.com reports. The firm owned 24,645 shares of the wireless technology company’s stock after acquiring an additional 24,515 shares during the period. QUALCOMM comprises approximately 0.5% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 29th largest position. ClariVest Asset Management LLC’s holdings in QUALCOMM were worth $4,909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc lifted its holdings in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal lifted its holdings in shares of 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 during the last quarter. TRUE Private Wealth Advisors raised its stake in QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC boosted its holdings in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. raised its position in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, 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 transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a document filed with the SEC, which is available through this link. In other 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 transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 $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 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $161.68 on Wednesday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company’s fifty day simple moving average is $178.40 and its 200-day simple moving average is $181.85. The firm has a market cap of $180.11 billion, a PE ratio of 21.73, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 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.