Menlo Advisors LLC Acquires Shares of 1,125 QUALCOMM Incorporated (NASDAQ:QCOM)

Menlo Advisors LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,125 shares of the wireless technology company’s stock, valued at approximately $224,000. QUALCOMM makes up 0.1% of Menlo Advisors LLC’s holdings, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the 1st quarter valued at about $1,171,516,000. Putnam Investments LLC lifted its holdings in QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research report on Thursday, August 1st. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday. Susquehanna upped their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup upped their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Trading Down 0.7 %

QCOM opened at $166.61 on Tuesday. The firm’s 50 day moving average is $175.29 and its 200-day moving average is $182.11. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $185.94 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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

Insider Activity at QUALCOMM

In other 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 value of $1,595,760.00. Following the sale, 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 document filed with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock valued at $3,496,590. Insiders own 0.08% of the company’s stock.

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.