QUALCOMM Incorporated (NASDAQ:QCOM) is Loudon Investment Management LLC’s 2nd Largest Position

Loudon Investment Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,618 shares of the wireless technology company’s stock after selling 340 shares during the quarter. QUALCOMM comprises 4.8% of Loudon Investment Management LLC’s portfolio, making the stock its 2nd largest position. Loudon Investment Management LLC’s holdings in QUALCOMM were worth $8,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC raised its position in shares of QUALCOMM by 1.0% during the 2nd quarter. SVB Wealth LLC now owns 14,513 shares of the wireless technology company’s stock worth $2,891,000 after purchasing an additional 145 shares during the period. Chicago Capital LLC raised its position in shares of QUALCOMM by 582.8% during the 2nd quarter. Chicago Capital LLC now owns 30,617 shares of the wireless technology company’s stock worth $6,098,000 after purchasing an additional 26,133 shares during the period. EFG Asset Management Americas Corp. raised its position in shares of QUALCOMM by 62.2% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 39,404 shares of the wireless technology company’s stock worth $7,848,000 after purchasing an additional 15,116 shares during the period. Los Angeles Capital Management LLC raised its position in shares of QUALCOMM by 155.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,183,487 shares of the wireless technology company’s stock worth $235,727,000 after purchasing an additional 720,668 shares during the period. Finally, Sivia Capital Partners LLC raised its position in shares of QUALCOMM by 50.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,980 shares of the wireless technology company’s stock worth $394,000 after purchasing an additional 666 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Susquehanna increased their price target on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Piper Sandler restated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Barclays raised their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Mizuho raised their target price on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 3.4 %

Shares of QCOM traded down $5.51 during mid-day trading on Friday, reaching $158.19. The company’s stock had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. The business has a fifty day moving average of $179.95 and a 200 day moving average of $181.35. The company has a market cap of $176.22 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year 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.

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

QUALCOMM Dividend Announcement

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is currently 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.