Citizens Financial Group Inc. RI Acquires 34,139 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Citizens Financial Group Inc. RI increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 957.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,706 shares of the wireless technology company’s stock after buying an additional 34,139 shares during the period. Citizens Financial Group Inc. RI’s holdings in QUALCOMM were worth $7,510,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its position 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 purchased a new stake in QUALCOMM during the fourth quarter valued at about $334,000. Dynamic Technology Lab Private Ltd boosted its position in QUALCOMM by 90.2% during 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 during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of QUALCOMM by 7.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,263 shares of the wireless technology company’s stock valued at $9,584,000 after purchasing an additional 4,315 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of QUALCOMM by 27.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock valued at $190,000 after buying an additional 280 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $167.73 on Monday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock has a market capitalization of $186.85 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company’s 50-day moving average is $176.11 and its 200 day moving average is $182.05.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Citigroup boosted their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Mizuho upped their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $210.63.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 over the last three months. Insiders own 0.08% of the company’s stock.

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.