Chatham Capital Group Inc. Acquires 2,397 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Chatham Capital Group Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,652 shares of the wireless technology company’s stock after purchasing an additional 2,397 shares during the quarter. Chatham Capital Group Inc.’s holdings in QUALCOMM were worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in QUALCOMM by 8.1% in 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 during the last quarter. Morgan Stanley grew its position in QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the period. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at $2,507,978,000. Finally, Putnam Investments LLC lifted its holdings in shares of QUALCOMM by 4.3% during 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 buying an additional 263,482 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Piper Sandler increased their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Price Performance

QCOM stock traded up $4.03 during mid-day trading on Friday, hitting $199.18. The company had a trading volume of 15,547,484 shares, compared to its average volume of 11,272,695. The company has a 50-day moving average price of $195.82 and a 200 day moving average price of $169.67. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.